Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry...

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Indian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in April; tractor sales rise 21% TUV SUD to conduct audits for auto Inc to comply with global standards Electric vehicles market faces financing, infrastructure challenges: report Policy push to boost electric vehicle sales Interviews & Features Cars, SUVs, MUVs Petrol variant of Renault Duster with CVT gearbox launched at Rs 10.32 lakh (Ex-Delhi) Maruti Suzuki hits new record high; Sensex reclaims 30,000-level Maruti Suzuki drives into select club Isuzu MU-X SUV launch date confirmed Maruti tenth highest valued Indian firm Skoda opens booking for Kodiaq five months ahead of its launch in India Toyota likely to launch new Innova Crysta Touring Sport on May 4 Toyota Innova Crysta Touring Sport special edition: Things to know Ford India domestic sales up 17% in April; exports jump 76% Peyman Kargar takes over as interim President Nissan India Hyundai cars can now be booked online Maruti shares up nearly 3%; mcap surges by Rs. 5,442 cr Maruti Suzuki hits new high post April sales; m-cap crosses Rs 2 lakh crore Skoda awaits a ride with Tata Motors Maruti shares up nearly 3%; mcap surges by Rs 5,442 cr Maruti Suzuki crosses Rs2 trillion in market cap Volkswagen T-Roc officially teased 5 cars launching in next three months Maruti Suzuki stocks at new high, m-cap crosses Rs.2 lakh cr Drive safe, drive healthy Luxury Cars Audi loses number 2 spot to BMW Commercial Vehicles Ashok Leyland sales decline by 30% in April 2017, sells 7083 units Tata Motors, Ashok Leyland rev up exports to Asian, African markets CV sales drop in April after SC order banning sale of BS-III vehicles Construction & Agri Machinery Escorts appoints Amanppreet Singh Bhatia as Group HR Head Tractors sells 25,081 units in India during April 2017, says Mahindra 2/3 Wheelers Smooth ride for two-wheeler makers TVS two-wheeler's domestic sales up by 4% in April 2017 HMSI inches closer to Hero MotoCorp, reports 34% growth in April 2017

Transcript of Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry...

Page 1: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Indian Auto Industry Update

03 May 2017

IndustryComplete Sales Analysis for April 2017

Mahindra Auto domestic sales down 4 in April tractor sales rise 21

TUV SUD to conduct audits for auto Inc to comply with global standards

Electric vehicles market faces financing infrastructure challenges report

Policy push to boost electric vehicle sales

Interviews amp FeaturesCars SUVs MUVs

Petrol variant of Renault Duster with CVT gearbox launched at Rs 1032 lakh (Ex-Delhi)

Maruti Suzuki hits new record high Sensex reclaims 30000-level

Maruti Suzuki drives into select club

Isuzu MU-X SUV launch date confirmed

Maruti tenth highest valued Indian firm

Skoda opens booking for Kodiaq five months ahead of its launch in India

Toyota likely to launch new Innova Crysta Touring Sport on May 4

Toyota Innova Crysta Touring Sport special edition Things to know

Ford India domestic sales up 17 in April exports jump 76

Peyman Kargar takes over as interim President Nissan India

Hyundai cars can now be booked online

Maruti shares up nearly 3 mcap surges by Rs 5442 cr

Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore

Skoda awaits a ride with Tata Motors

Maruti shares up nearly 3 mcap surges by Rs 5442 cr

Maruti Suzuki crosses Rs2 trillion in market cap

Volkswagen T-Roc officially teased

5 cars launching in next three months

Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr

Drive safe drive healthy

Luxury CarsAudi loses number 2 spot to BMW

Commercial VehiclesAshok Leyland sales decline by 30 in April 2017 sells 7083 units

Tata Motors Ashok Leyland rev up exports to Asian African markets

CV sales drop in April after SC order banning sale of BS-III vehicles

Construction amp Agri MachineryEscorts appoints Amanppreet Singh Bhatia as Group HR Head

Tractors sells 25081 units in India during April 2017 says Mahindra

23 WheelersSmooth ride for two-wheeler makers

TVS two-wheelers domestic sales up by 4 in April 2017

HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017

Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant

Suzuki Motorcycles sells 36289 units in April 2017

Honda closing in on Hero gap down to 12300 in April

Upcoming scooters in India in 2017

E-BikesComponents

Steel Strips Wheels April sales suffer due to BS IV volume adjustment

Hero Group owned Rockman Industries opens its first office outside India

Changing job market Automation slams brakes on shop-floor jobs

Allied IndustriesCompulsory helmets for two-wheeler riders in Puducherry

Large contingent of Indian engineering firms to participate in Dubai Automechanika

Emissions EnvironmentFinance amp Insurance

Shriram Transport PT revised to Rs 995

Oil Lubricants amp Alternative FuelsMethanol-blended fuel answer to cut oil import bill reduce pollution

Oil rises as OPEC cuts outweigh higher output elsewhere

Auto LPG registers about 5 growth in sales

News MagazinesHyundai opens centralised quality and training centre in Faridabad

2017 Renault Duster 15 petrol CVT launched

2017 Maruti Dzire vs rivals Specifications comparison

Best new car discounts this month

New Chevrolet Beat launch in July 2017

2017 Renault Kwid 10 long term review first report

2017 BMW 740Li review test drive

International NewsSamsung gets SKorea nod to test driverless car carrying its parts amp software

Hyundai posts double-digit fall in global car sales

Cummins profit beats estimates raises 2017 forecasts

BMW Motorrad introduces new website

Automakers April US sales drop Wall Street fears boom is over

GM writes down Venezuela operations after authorities seize plant

General Motors Durant-Dort Factory One now an archive for early auto manufacturing

Opel to build new Corsa model with Peugeot technology

SUV Concept blends electric power in stylish body

EconomyRupee closes up 3 paise against dollar ahead of US Fed meet

Sensex ends flat realty consumer durables stocks major gainers

India to clock 71 GDP this year 75 in 2018 UN

PMI data Fitch outlook point to a humming economy

ClosingLast Financial Closing

Industry

Complete Sales Analysis for April 2017

The Economic Times (Web Edition)

After creating history by crossing the 3 million mark in domestic sales and growing 923 percent during 2016-17 and 996 percentduring March 2017 passenger vehicles have continued their growth streak during April starting the financial year FYamprsquo18 on apromising note

Most of the passenger vehicle manufacturers have reported a double digit growth on the back of new product launches while thecommercial vehicle sector is in the red due to pre-buying preceding the rollout of the BS-IV emission norms from 1 April 2017 andthe price increase of BS-IV vehicles especially in the medium and heavy commercial vehicle segment and buses by 8-10 percent

The PV segment is forecast to grow in high single digits ranging between 7-9 percent during 2017-18 according to industry bodySIAM on the back of better Pay Commission payouts and a better agricultural crop sowing

With carmakers adding production capacity for instance Maruti Suzuki India at its Gujarat plant where it is making the BalenoRSand Baleno models waiting periods of popular models is set to come down as it eases pressure on its existing plants in Gurgaonand Manesar

Last year Maruti Suzuki was facing capacity constraints due to the huge demand for its Baleno and Vitara Brezza models and hadto slowly expand capacity at its Haryana facilities to meet their demand Now with the new generation Dzire to roll out on May 16the growth in Marutiamprsquos PV segment augurs well for the new hatchback

Maruti Suzuki IndiaThe countryamprsquos largest carmaker by volumes retained its numero uno position in FYamprsquo17 and continues to record its bestgrowth during April 2017 with monthly wholesales at 144492 units in the domestic market posting a growth of 234 percent overthe same month last year the company said in a statement Last April Maruti Suzuki sold 117045 units

April has been the best month for the carmaker in terms of its domestic sales since September 2016 when the company sold137277 units

The new Dzire will be added in the carmakers compact portfolio that has fared the best during April growing 39 percent over thesame month last year with the Swift Baleno Ignis and Dzire selling 63584 units

It is followed by the Vitara Brezza and other utility vehicles including the S-cross Gypsy and Ertiga that saw total sales of 20638units during April against 16044 units during the same month last year UVs grew by 2225 percent signaling the changingcustomer preferences Since their launch both the Baleno and the Vitara Brezza have been commanding long waiting periods of6-9 months for their top end variants

The mini segment comprising the Alto and Wagon R sold 38897 units last month compared to 31906 units in April 2016 registeringa 219 percent growth The Maruti Suzuki Ciaz has also done well and was recently shifted to the premium Nexa outlet as it hasbeen drawing large number of footfalls and outperforming competition in the mid-sedan segment Ciaz has witnessed sales of 7024units in the domestic market

However in exports Maruti Suzuki did not fare well declining by 294 percent exporting 6732 units in April 2017 against 9524 unitsin the same month last year

Hyundai Motor IndiaIndias second largest carmaker Hyundai Motor India grew 57 percent in domestic sales during April 2017 and delivered 44758units to its customers according to a company statement The automaker sold 42351 units during April 2016

The largest car exporter from India Hyundaiamprsquos exports de-grew by 38 percent It exported 11610 units during the monthagainst 12069 units exported during April 2016 But its cumulative sales for the month were up by 36 percent at 56368 units

Rakesh Srivastava director - sales and marketing HMIL said Hyundai with a volume of 44758 units continued its growthmomentum on a strong base of last year driven by response for the new family sedan Xcent and the Grand i10 Elite i20 and theCreta Recently Hyundai had launched the new Xcent in the market The existing Xcent will now cater to the taxi fleet segment

The carmaker currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent Verna CretaElantra Tucson and Santa Fe and exports to around 87 countries across Africa Middle East Latin America Australia and the AsiaPacific It also has plans to rollout another 8 new models by 2021

Tata MotorsThe home grown Tata Motors continued its growth momentum at sales of 12827 units in the domestic market for its passengervehicle segment growing 23 percent over April 2016 This was due to an encouraging response for its recently launched Tata HexaUV and its latest Styleback the Tata Tigor which maintains a good order book

However sales of Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 withthe ban on BS-III sales leading to the need for a higher quantity of BS-IV stock for April sales The higher demand at short noticewas not met in production as vendors struggled to meet with the higher demand especially in the Medium amp Heavy CommercialVehicle segments

In addition after the strong pre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in theMampHCV and buses at 8-10 percent) demand for BS-IV vehicles was also weak Commercial vehicle domestic sales in April stood at16017 units lower by 36 percent over April 2016 The company says this is an unusual decline in exceptional circumstances

Tata Motors expects production wholesales and retails to pick up in May and June

Tata Motors passenger and commercial vehicle total sales (including exports) in April 2017 stood at 30972 vehicles a de-growth of

21 percent over 39389 vehicles sold in April 2016 The companyamprsquos domestic sales of commercial and passenger vehicles forApril 2017 were at 28844 units down by 19 percent over 35604 units in April 2016

Mayank Pareek president Passenger Vehicles Business Unit of Tata Motors said ampldquoWhile the industry faced short-termheadwinds further to the BS- III verdict Tata Motors continued its robust sales performance with a growth of 23 percent in April ledby a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata Hexa We hope to see this momentumcontinue with an encouraging growth on the back of our strong product portfolioamprdquo

Tata Motors registered consolidated revenues of Rs 275561 crore in 2015-16 Through subsidiaries and associate companiesTata Motors has operations in the UK South Korea Thailand South Africa and Indonesia

Tata cars buses and trucks are being marketed in several countries in Europe Africa the Middle East South Asia South EastAsia South America Australia CIS and Russia

Nissan Motor IndiaNissan Motor Indiaamprsquos wholesale deliveries reported an uptick of 39 percent in April 2017 to 4217 vehicles The company in astatement has credited this growth in sales to customer demand for the Datsun redi-GO and the recently introduced new NissanTerrano

The carmakers sales rose to 4217 vehicles in April 2017 from 3028 in April 2016

ampldquoWe usher in the new fiscal year with robust growth in terms of sales and positive sentimentamprdquo said Arun Malhotramanaging director of Nissan India ampldquoAcross India we are strengthening our footprint introducing products and services thatcustomers want and valueamprdquo

The Nissan Motor India group which manages sales and service support for the Nissan and Datsun brands announced plans in2016 to introduce a total of up to eight new models from the two brands to India by 2021

These new models include the launch of the X-Trail hybrid in 2017 that will enable the company to inch closer to its goal ofgarnering a 5 percent market share by 2020 Its alliance partner Renault India also plans to capture a 5 percent market share by2020 taking their total share in India to 10 percent

Toyota Kirloskar MotorToyota Kirloskar Motor the Indian arm of Japanese car maker Toyota Motor Corporation has registered a 52 percent sales growthin the domestic market and sold a total of 12948 units in the month of April 2017 according to a company statement

The automaker has exported 1109 units of the Etios series in April 2017 against 978 units during April 2016 growing 13 percent

The company has attributed this growth to the huge response for its new Fortuner that has sold 12200 units within six months of itslaunch

The new Corolla Altis has also received a favourable response In just one month of its launch the new Corolla Altis clocked agrowth of over 75 percent retaining its position as segment leader

N Raja director and senior VP ampndashsales and marketing TKM said ampldquoWe have been able to sustain a robust growth in themonth of April 2017 This growth has been propelled by the overwhelming response the new Fortuner has received Ever since itslaunch in India in 2009 the Fortuner has been an undisputed segment leaderamprdquo He added that the new Corolla Altis hadcontributed towards the monthly sales growth

Honda Cars India Honda Cars India has reported monthly domestic sales of 14480 units in April 2017 against 10486 units in the correspondingmonth last year growing 381 percent The companyamprsquos newly launched Honda WR-V has received 12000 bookings for theWR-V since its launch in mid-March while the new Honda City 2017 has received over 25000 bookings since its launch inmid-February

ampldquoHCIL sales continue to grow positively and we registered our higher ever April numbers backed by strong demand for NewCity 2017 and Honda WR-V The new fiscal year has begun on a positive note and we hope to continue the growthmomentumamprdquo said Yoichiro Ueno president and CEO

HCIL also exported a total of 442 units in April 2017 Honda imported 30 units of the Accord hybrid in March and sold 28 unitsduring March and 1 unit in April

India Yamaha MotorThe company strengthened its position by clocking domestic sales of 68827 units (including Nepal) in 2017 compared to 63927units (including Nepal) in 2016 growing 8 percent in the domestic market

Recently Yamaha launched its all new powerful 249 cc mid-class Street Fighter motorcycle FZ25 in India to further boost its sharein the premium segment

Driven by its new product line up and its focus on expanding to tier-II and III cities by which it has been able to reach a larger targetpopulation has been instrumental in boosting its sales

Roy Kurian senior VP sales and marketing Yamaha Motor India Sales said ampldquoAs the company is eyeing to achieve 1 millionsales in 2017 it has introduced FZ 25 the macho street bike to cater to the premium segments that mostly dominates the urbanmarket On the other hand the company will remain vigilant to tier II and tier III markets that could see reasonable surge in scootersalesamprdquo

Hero MotoCorpIndias largest two-wheeler manufacturer Hero MotoCorp in a BSE filing reported its wholesale sales of 591306 units in April 2017declining by 349 percent The company sold a total of 612739 units in April 2016

Hero MotoCorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to rise incommodity prices from May 1 2017

The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in view of transition from BS- III to BS-IVvehicles With the ongoing marriage season the company expects to maintain the trend of robust sales in May said the companystatement

Hero MotoCorp has now spread its wings globally with presence in 35 countries across Asia Africa Central and South America

Royal EnfieldRoyal Enfield sold a total of 60142 units (including exports) during April 2017 posting a 25 percent growth The company sold atotal of 48197 units in April 2016 the company said in a BSE filing

Royal Enfield motorcycles with engine capacity of upto 350cc saw an uptick of 30 percent as they dominated the companys saleschart by selling 56349 units in April 2017

Motorcycles above 350cc which include the Royal Enfield Continental GT Royal Enfield Bullet 500 and Royal Enfield Classic 500saw a sales decline by 23 percent as the company managed to sell only 3793 units last month against 4938 units in April 2016

Royal Enfields exports rose by 36 percent as the company exported 1578 units in April 2017 The company also announced directoperations in Brazil last month to strengthen its presence in Latin America

Honda Motorcycle amp Scooter IndiaHonda Motorcycle amp Scooter India (HMSI) has achieved its highest ever sales of 578929 two-wheelers growing 34 percent in asingle month The companyamprsquos domestic market share crossed 30 percent for the first time rising 6 percent to 33 percentExports share rose 5 percent to 305 percent including both domestic and exports

Recently HMSI had declared its target of reaching 6 million units in FYamprsquo2017-18 Yadvinder Singh Guleria senior VP - salesand marketing said ampldquoHonda sold a total of 578929 two-wheelers with a phenomenal 34 percent growth on the back ofcustomer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Honda two-wheeler sales increased 33percent to an all-time high of 551884 units with over 30 percent market share (33) for the first time ever

Within segments automatic scooter sales led the momentum with 40 percent growth to cross 35 lakh mark for first time ever(368618 units) while motorcycle sales recorded a robust 22 percent growth Not only domestic but exports of Honda Two-WheelersIndia also saw a jump of close to 60 percent over April 2016amprdquo

VE Commercial VehiclesVE Commercial Vehicles (a Volvo Group and Eicher Motors joint venture) has sold 3089 units in April 2017 compared to 5365 unitsin April 2016 recording an overall decline of 424 percent This includes 3077 units of the Eicher brand and 12 units of the Volvobrand according to a company statement

Eicher branded trucks and buses have recorded total sales of 3077 units in April 2017 compared to 5326 units in April 2016representing a decline of 4222 percent

In the domestic CV market Eicher branded trucks and buses have recorded sales of 2578 units in April 2017 compared to 4641units in April 2016 representing a decline of 445 percent On the exports front Eicher branded trucks and buses recorded total salesof 499 units in April 2017 compared to 685 units in April 2016 representing a decline of 272 percent

Volvo Trucks has recorded sales of 12 units in April 2017 compared to 39 units in April 2016 representing a decline of 692 percent

Ashok LeylandContinuing with the decline in the commercial vehicle segment CV maker Ashok Leyland has posted a decline of 30 percent withsales of 7083 units in April 2017 against 10182 units in April 2016

Medium and Heavy Commercial Vehicles de-grew by 43 percent from 7873 units in April 2016 to 4525 units in April 2017 In theLCV category sales grew 11 percent with sales of 2558 units in April 2017 against 2309 units in the same month last yearhttpautoeconomictimesindiatimescomnewsindustrycomplete-sales-analysis-for-april-201758478717Car sales zoom over 16 in April Maruti Tata Honda contribute the most(Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniescar-sales-zoom-over-16-in-april-maruti-tata-honda-contribute-the-most-117050100739_1html

Top

Mahindra Auto domestic sales down 4 in April tractor sales rise 21 The Economic Times (Web Edition)

Mumbai Indian utility vehicle manufacturer Mahindra amp Mahindra has witnessed 4 percent in domestic sales in auto sector for themonth of April 2017 and stood at 37829 units informed the company in a Bombay Stock Exchange (BSE) filing

The companys exports declined by 39 percent and stood at 1528 units as against 2506 units during April 2016 Mahindra amp

Mahindra auto sectors cumulative sales for the month registered de-growth of 6 percent at 39357 units

The automaker sold 19325 passenger vehicles during April 2017 when compared with 22655 units in April 2016 thereby seeingyear-on-year decline of 15 percent Its commercial vehicle segment grew by 16 percent at 15066 units

Mahindra three-wheeler sales decreased by 8 percent during April 2017 at 3438 units

Rajan Wadhera President Automotive Sector Mahindra amp Mahindra said We are hopeful that the new financial year will bring inpositive sentiments for the automotive industry with the key demand drivers in place

Factors such as he ongoing infrastructure development initiatives outlook for a normal monsoon and the expectation of a stablepolicy environment will fuel growth in the coming days Going forward we are looking for a good growth momentum with ourplanned refreshes during FY18

Mahindra Tractor Sales PerformanceThe farm equipment sector of Mahindra amp Mahindra has sold 25081 tractors for the month of April 2017 in domestic marketthereby posting growth of 21 percent

Mahindra Tractors have exported 920 units when compared with 682 units during April 2016 registering growth of 35 percent Itscumulative sales for the month stood at 26001 with year-on-year growth of 22 percent

Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra said We expect that the prediction of a normalmonsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvmahindra-auto-domestic-sales-down-4-in-april58472374Mahindra reports decline in car sale units in AprilAsian Age (Web Edition)httpwwwasianagecombusinesscompanies020517mahindra-reports-decline-in-car-sale-units-in-aprilhtmlMahindra sales decline 6 to 39357 units in Aprilmint (Web Edition)httpwwwlivemintcomCompaniesUTUCweictRah9M2V8G7D2MMahindra-sales-decline-6-to-39357-units-in-AprilhtmlMampM sales decline 6 to 39357 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniesm-m-sales-decline-6-to-39-357-units-in-april-117050200367_1html

Top

TUV SUD to conduct audits for auto Inc to comply with global standards The Economic Times (Web Edition)

New Delhi German safety and quality automotive solution provider TUumlV SUumlD will conduct transition and initial audits for automotivemanufacturers for compliance with IATF 16949 a new global industry standard

The solutions provider said in a statement IATF 16949 plays an essential role in ensuring quality requirements are met therebyreducing the risk of product and service failure for automotive production service andor accessory parts organisations Certificationto IATF 16949 is mandatory for organisations who wish to manufacture parts for the automotive industry

As an IATF-recognised certification body TUumlV SUumlD will conduct transition for organisations currently certified to ISOTS 16949 andinitial audits for organisations requiring automotive certification

For manufacturers partnering with TUumlV SUumlD for the first time pre-assessments might be undertaken to analyse organisationalreadiness for certification against IATF 16949 on request of the organisations As part of IATF 16949 services TUumlV SUumlD willenable automotive manufactures to gain a competitive edgehttpautoeconomictimesindiatimescomnewsindustrytuv-sud-to-conduct-audits-for-auto-inc-to-comply-with-global-standards58481533

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Electric vehicles market faces financing infrastructure challenges report Utpal Bhaskarmint

New Delhi The Indian electric vehicles (EV) market poses formidable challenges for policymakers according to consulting firmBridge to India

This comes in the backdrop of the National Democratic Alliance (NDA) governmentamprsquos ambitious plan for an all-EV fleet by2030 even as the sales numbers have not been picking up to help reach the Centreamprsquos target of 6 million EV sales by 2020

ampldquoGrowth in electric vehicles can facilitate greatly in energy transition but the market poses formidable infrastructure andfinancing challenges for Indian policy makersamprdquo Bridge to India wrote in a 1 May note

EV sales in India grew by 375 to 22000 units in the year ended 31 March 2016 according to industry lobby group Society ofManufacturers of Electric Vehicles Of these only 2000 units were four-wheelers

The Bridge to India note also compared the EV markets of India and China

ampldquoIndia has made little progress in electric mobility since the announcement of the National Electric Mobility Mission Plan in2013 aiming for over 6 million electrichybrid vehicles by 2020amprdquo the note said adding ampldquoIn comparison China is aworld leader in electric vehicles with over 50 global annual market share Local manufacturers such as BYD and BAIC are worldleaders in this market The country is considering ramping up progress even further and wants 8 of all vehicles to be electricallypowered by next yearamprdquo

The Indian government has been trying to push sales of EVs The Centre is exploring measures ranging from leasing of EVs totransferring technology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centrefor use in automobiles It is also exploring a strategy that involves reducing the battery size to bring down EV prices

ampldquoElectric vehicles market is growing rapidly worldwide fuelled by stricter environmental measures technology improvementsand cost reduction in energy storage It is also seen as a vital link in achieving energy transition That explains the lead taken by thepower minister Piyush Goyal on the electric mobility initiative despite automobiles falling under the ambit of the Ministry of HeavyIndustriesamprdquo the note added

Goyal has stated that the growth of solar power and EVs in India are inextricably linked given that EVs have batteries that can offera storage solution to the countryamprsquos clean energy push As solar power generated during the day needs to be stored inbatteries the storage capability of EV batteries could help with grid balancing

India plans to achieve 175 GW of renewable energy capacity by 2022 Of this 100GW is set to come from solar projects

ampldquoGrowth in sales of electric vehicles will lead to more demand for (renewable) power help in creating a flexible demandsource to tackle intermittency issues of renewable power and reduce reliance on (mostly imported) oilamprdquo the note said

Shifting to EVs will also check pollution and fuel imports India the biggest emitter of greenhouse gases after the US and Chinaplans to reduce its carbon footprint by 33-35 from its 2005 levels by 2030 as part of its commitments to the United NationsFramework Convention on Climate Change adopted by 195 countries in Paris in 2015

ampldquoThe ambitions now need to be backed with actions But while India has a large domestic market it lacks the fiscal capabilityand ambition of China and the technology expertise of Japan or South Koreaamprdquo the note cautionedhttpwwwlivemintcomIndustryOaHPVDl3rJTeJAvaYF5EfLElectric-vehicles-market-faces-financing-infrastructure-chahtml

Top

Policy push to boost electric vehicle sales Ananth Padmanabhan amp Shashank Reddymint

Ashlee Vance in his recent biography Elon Musk Tesla SpaceX And The Quest For A Fantastic Future writes that Teslaamprsquosoriginal founders encountered few venture capitalist funds willing to advance relatively modest investments their way in 2003 ButTesla grew to dethrone General Motors a few weeks ago as Americaamprsquos most valued automobile company The resistance inits formative years and Teslaamprsquos astounding success thereafter share a common cause its exclusive focus on electric cars

Market sentiment has changed over the last 14 years because of several advantages offered by electric vehicles (EVs) EVs aremuch more eco-friendly than internal combustion engines They significantly reduce the oil import bill of nations bolstering energysecurity They can also be much cheaper than conventional vehicles in the long run due to fewer moving parts lower maintenancecosts and reduced fuel expenses

However in FY16 only 22000 EVs were sold in India of which approximately 2000 were cars and the rest two-wheelers InNorway EVs accounted for 23 of all new car sales in 2015 The figure for the same year stood at 9 in the Netherlands China isnow the largest market for electric buses with over 173000 of them on its roads In 2015 China also became the top electricpassenger car market globally Perceived from this lens the Indian market for EVs has seen minimal uptake

But hope is on the horizon with the Central governmentamprsquos renewed commitment to EVs especially for public transportationThis is critical considering how India lost out in the early phase of EV adoption 2013-14 was particularly bad as electrictwo-wheeler sales crashed to a mere 21000 units from 100000 two years prior Nearly half the total number of e-bike distributorsclosed shop during that period Though the National Electric Mobility Mission Plan (Nemmp) 2020 generated positive buzz whenlaunched in January 2013 subsidies and incentives promised by the plan were difficult to come by Several new players in thissector wound up leading to a loss of innovative capabilities and solutions

On the contrary the Faster Adoption and Manufacturing of (Hybrid amp) Electric Vehicles in India (FAME) scheme launched in 2015seeks to tackle the pain points largely unaddressed by Nemmp in its first phase To overcome the scattered presence of chargingstations and the additional barrier of still-expensive batteries the Narendra Modi government is contemplating a policy push for thesale of EVs without batteries supplemented with battery leasing operations and battery swap stations This is an important stepconsidering most projections (except Teslaamprsquos own aggressive 2020 deadline) place somewhere between 2025-30 as theperiod when battery pack prices will fall below the current gold standard of $100 per kWh India cannot afford to wait that long

The xEV One consortium a collaborative effort between the government of India and car manufacturers to develop a supplier basefor critical hybrid and EV components started off on a wrong footing with Maruti Suzuki and Ford India backing out But thegovernment appears committed to the driving philosophy behind the consortiumampmdashpublic-private collaboration A recentpartnership with Ola Cabs pursuant to Masayoshi Son of SoftBank (Olaamprsquos investor) committing to a million EVs that aims tointroduce a fleet of 300 electric cars in Nagpur is a case in point

More policy innovations both from the Centre and the states are required to ensure the success of these green initiatives Thesesteps can be structured around three key themes The first and perhaps the most obvious is the targeting of direct sops andincentives for EV and component manufacturers as well as consumers From the supply side such interventions includespeed-tracking of environmental and labour clearances tax rebates and exemptions Demand-side interventions include directconsumer subsidies waiver of road tax and registration fees GST (goods and services tax) refunds and free parking spaces

The second step must be a renewed commitment on the part of governments to provide and promote greater public infrastructurefor EVs including public charging stations dedicated electric supply lines for such stations and battery swap stations Doing so willinfuse much-needed trust and confidence in this mobility solution As seen from the earlier failure of Nemmp financial incentives donot work by themselves

Third and equally important is a big boost for RampD (research and development) innovation in this space In February 2016 aTechnology Platform for Electric Mobility was initiated jointly by the departments of heavy industries and science and technologyFive projects have been accurately identified therein for ampldquodemand driven RampD to achieve desirable targetspecsamprdquoampmdashlithium battery charging infrastructure driving cycle and traffic pattern motors and drives and lightweightingof EVs These are clearly the most critical areas for research and directing funding will be instrumental in meeting the Nemmptarget of six million EVshybrids by 2020 In addition a robust system of incentives for private entities spearheading EV innovationincluding tax credits for setting up research labs is crucial

EVs offer advantages that are particularly suited to Indiaamprsquos economic and environmental conditions India must move quicklyin this space both in terms of EV adoption and innovation to transition to a cleaner greener and more efficient age of mobilityhttpwwwlivemintcomOpinion24QvIByNFcKdpn1Rg1vhYKPolicy-push-to-boost-electric-vehicle-saleshtml

Top

Interviews amp Features

Cars SUVs MUVs

Petrol variant of Renault Duster with CVT gearbox launched at Rs 1032 lakh (Ex-Delhi) The Economic Times (Web Edition)

New Delhi Renault India in a press release announced the launch of Renault Duster petrol range with CVT (Continuously VariableTiming) transmission starting at Rs 1032 lakh (Ex-Delhi) The petrol variants of the Duster SUV is equipped with the 15L H4Kpetrol powertrain and is available in two trims RXE and RXL The CVT transmission is only available on the RXL variant

The petrol powertrain in the manual transmission (MT) is now offered at an introductory starting price of INR 849 Lakh (ex-Delhi)

Renault Duster CVT comes with easy selection drive modes ampndash P (Park) R (Reverse) N (Neutral) D (Drive) and a 6 speedmanual mode option

Commenting on the launch of the new Duster petrol range and the Duster CVT Sumit Sawhney Country CEO and ManagingDirector Renault India Operations said ampldquoWe have a clear goal of growing the Renault brand in India Towards this we arestrategically strengthening our product range expanding our network reach and initiating pioneering measures to ensure customerdelight

Duster plays a pivotal role in our product portfolio and with the introduction of the new petrol range with CVT Renault has thewidest offering in the segment enabling us to best cater to evolving customer needs We are confident that the new Duster petrolrange with the CVT will resonate well with discerning Indian customers in the fastest growing vehicle segment in Indiaamprdquo

The CVT is currently offered with 2WD and a 6-speed manual mode is also offered in the vehicle The Renault Duster CVT petrolgets a 15-litre four-cylinder engine unit that produces 106 PS amp 142 Nm of torque Renault India claims a mileage of 1499 kmpl onits petrol Duster with CVT gear box and 1419 kmpl on the manual gearbox

The company has sold over 16 lakh units of Duster SUV in India since its launch It is one of the best-selling SUVamprsquos for thecompany world-wide being marketed in over 100 countries and manufactured in 5 countries

Bookings for the New Duster petrol range in both MT and CVT versions have commenced across dealershipshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvpetrol-variant-of-renault-duster-with-cvt-gearbox-launched-at-rs-10-32-lakh-ex-delhi58477826Renault drives in Duster petrol with CVT at Rs 1032 lakhThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesrenault-drives-in-duster-petrol-with-cvt-at-rs-10-32-lakharticleshow58479398cms Renault drives in Duster petrol with CVT at Rs 1032 lakhDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-renault-drives-in-duster-petrol-with-cvt-at-rs-1032-lakh-2425171Renault Duster Petrol CVT automatic transmission variant launched at Rs 1032 lakhThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsrenault-duster-petrol-cvt-automatic-transmission-variant-launched-at-rs-10-32-lakh651110

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Maruti Suzuki hits new record high Sensex reclaims 30000-level Rahul OberoiThe Economic Times (Web Edition)

New Delhi Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after thecountryamprsquos largest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569units sold in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

The carmaker reported a 158 per cent rise in net profit at Rs 1709 crore for the fourth quarter of last financial year ended March31 2017 It had posted a net profit of Rs 14762 crore for the same period in the previous financial year

Net sales during the fourth quarter of 2016-17 rose to Rs 180052 crore up 203 per cent against the year-ago period

Brokerage house HDFC Securities is bullish on Maruti Suzuki ampldquoWith 20 per cent EPS CAGR over FY17-19E and structuralimprovement in RoE (at around 25 per cent by FY19E vs 10 year average of around 17 per cent) we maintain aamplsquoBuyamprsquo on Maruti with a target price of Rs 7070

According to Edelweiss Securities long waiting periods for key products a structured launch programme superior franchise andsolid financials (9 per cent free cash flow to sales RoE of around 225 per cent in FY19E) will enable Maruti Suzuki sustain marketshare gains ampldquoWe maintain amplsquoBuyamprsquo on Maruti with a target price of Rs 6928amprdquo Edelweiss said

Sensex reclaims 30000-levelBSE benchmark Sensex recouped over 134 points to trade above the 30000-mark in early trade on Tuesday on the back ofwidespread gains triggered by encouraging corporate earnings

The 30-share index rose by 13433 points or 044 per cent to 3005273 The gauge had lost 21495 points in the previous twosessions

All the sectoral indices led by consumer durables PSU metal auto bank and IT were trading in the positive zone rising by up to096 per cent

The Nifty also advanced 3775 points or 040 per cent to 934185

Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong autosales data in April month amid a mixed trend at other Asian bourses

Prominent gainers were Maruti Suzuki Hero MotoCorp ONGC Bajaj Auto HDFC Ltd Asian Paint TCS Tata Steel SBI AxisBank Adani Ports ITC Ltd ICICI Bank Infosys and Wipro

Among Asian markets Japans Nikkei was up 070 per cent while Hong Kongs Hang Seng gained 027 per cent in early tradetoday Shanghai Composite Index however fell 032 per cent

The US Dow Jones Industrial Average ended 013 per cent lower in yesterdays tradehttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-hits-new-record-high-sensex-reclaims-30000-level58470869Maruti shares up nearly 3 mcap surges by Rs 5442 crThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266eceMaruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh croreBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Maruti Suzuki drives into select club Ashutosh R ShyamThe Economic Times (Web amp Print Edition)

Maruti Suzuki has pipped global car majors Audi Hyundai Subaru and Renault to enter the club of top ten auto makers by marketcapitalisation reports Ashutosh R Shyam The high double-digit volume growth last month catapulted Marutis m-cap to Rs 2 lakhcrore ($3155 billion) on Tuesday a first for an Indian auto company

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

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Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

Top

2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

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News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 2: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant

Suzuki Motorcycles sells 36289 units in April 2017

Honda closing in on Hero gap down to 12300 in April

Upcoming scooters in India in 2017

E-BikesComponents

Steel Strips Wheels April sales suffer due to BS IV volume adjustment

Hero Group owned Rockman Industries opens its first office outside India

Changing job market Automation slams brakes on shop-floor jobs

Allied IndustriesCompulsory helmets for two-wheeler riders in Puducherry

Large contingent of Indian engineering firms to participate in Dubai Automechanika

Emissions EnvironmentFinance amp Insurance

Shriram Transport PT revised to Rs 995

Oil Lubricants amp Alternative FuelsMethanol-blended fuel answer to cut oil import bill reduce pollution

Oil rises as OPEC cuts outweigh higher output elsewhere

Auto LPG registers about 5 growth in sales

News MagazinesHyundai opens centralised quality and training centre in Faridabad

2017 Renault Duster 15 petrol CVT launched

2017 Maruti Dzire vs rivals Specifications comparison

Best new car discounts this month

New Chevrolet Beat launch in July 2017

2017 Renault Kwid 10 long term review first report

2017 BMW 740Li review test drive

International NewsSamsung gets SKorea nod to test driverless car carrying its parts amp software

Hyundai posts double-digit fall in global car sales

Cummins profit beats estimates raises 2017 forecasts

BMW Motorrad introduces new website

Automakers April US sales drop Wall Street fears boom is over

GM writes down Venezuela operations after authorities seize plant

General Motors Durant-Dort Factory One now an archive for early auto manufacturing

Opel to build new Corsa model with Peugeot technology

SUV Concept blends electric power in stylish body

EconomyRupee closes up 3 paise against dollar ahead of US Fed meet

Sensex ends flat realty consumer durables stocks major gainers

India to clock 71 GDP this year 75 in 2018 UN

PMI data Fitch outlook point to a humming economy

ClosingLast Financial Closing

Industry

Complete Sales Analysis for April 2017

The Economic Times (Web Edition)

After creating history by crossing the 3 million mark in domestic sales and growing 923 percent during 2016-17 and 996 percentduring March 2017 passenger vehicles have continued their growth streak during April starting the financial year FYamprsquo18 on apromising note

Most of the passenger vehicle manufacturers have reported a double digit growth on the back of new product launches while thecommercial vehicle sector is in the red due to pre-buying preceding the rollout of the BS-IV emission norms from 1 April 2017 andthe price increase of BS-IV vehicles especially in the medium and heavy commercial vehicle segment and buses by 8-10 percent

The PV segment is forecast to grow in high single digits ranging between 7-9 percent during 2017-18 according to industry bodySIAM on the back of better Pay Commission payouts and a better agricultural crop sowing

With carmakers adding production capacity for instance Maruti Suzuki India at its Gujarat plant where it is making the BalenoRSand Baleno models waiting periods of popular models is set to come down as it eases pressure on its existing plants in Gurgaonand Manesar

Last year Maruti Suzuki was facing capacity constraints due to the huge demand for its Baleno and Vitara Brezza models and hadto slowly expand capacity at its Haryana facilities to meet their demand Now with the new generation Dzire to roll out on May 16the growth in Marutiamprsquos PV segment augurs well for the new hatchback

Maruti Suzuki IndiaThe countryamprsquos largest carmaker by volumes retained its numero uno position in FYamprsquo17 and continues to record its bestgrowth during April 2017 with monthly wholesales at 144492 units in the domestic market posting a growth of 234 percent overthe same month last year the company said in a statement Last April Maruti Suzuki sold 117045 units

April has been the best month for the carmaker in terms of its domestic sales since September 2016 when the company sold137277 units

The new Dzire will be added in the carmakers compact portfolio that has fared the best during April growing 39 percent over thesame month last year with the Swift Baleno Ignis and Dzire selling 63584 units

It is followed by the Vitara Brezza and other utility vehicles including the S-cross Gypsy and Ertiga that saw total sales of 20638units during April against 16044 units during the same month last year UVs grew by 2225 percent signaling the changingcustomer preferences Since their launch both the Baleno and the Vitara Brezza have been commanding long waiting periods of6-9 months for their top end variants

The mini segment comprising the Alto and Wagon R sold 38897 units last month compared to 31906 units in April 2016 registeringa 219 percent growth The Maruti Suzuki Ciaz has also done well and was recently shifted to the premium Nexa outlet as it hasbeen drawing large number of footfalls and outperforming competition in the mid-sedan segment Ciaz has witnessed sales of 7024units in the domestic market

However in exports Maruti Suzuki did not fare well declining by 294 percent exporting 6732 units in April 2017 against 9524 unitsin the same month last year

Hyundai Motor IndiaIndias second largest carmaker Hyundai Motor India grew 57 percent in domestic sales during April 2017 and delivered 44758units to its customers according to a company statement The automaker sold 42351 units during April 2016

The largest car exporter from India Hyundaiamprsquos exports de-grew by 38 percent It exported 11610 units during the monthagainst 12069 units exported during April 2016 But its cumulative sales for the month were up by 36 percent at 56368 units

Rakesh Srivastava director - sales and marketing HMIL said Hyundai with a volume of 44758 units continued its growthmomentum on a strong base of last year driven by response for the new family sedan Xcent and the Grand i10 Elite i20 and theCreta Recently Hyundai had launched the new Xcent in the market The existing Xcent will now cater to the taxi fleet segment

The carmaker currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent Verna CretaElantra Tucson and Santa Fe and exports to around 87 countries across Africa Middle East Latin America Australia and the AsiaPacific It also has plans to rollout another 8 new models by 2021

Tata MotorsThe home grown Tata Motors continued its growth momentum at sales of 12827 units in the domestic market for its passengervehicle segment growing 23 percent over April 2016 This was due to an encouraging response for its recently launched Tata HexaUV and its latest Styleback the Tata Tigor which maintains a good order book

However sales of Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 withthe ban on BS-III sales leading to the need for a higher quantity of BS-IV stock for April sales The higher demand at short noticewas not met in production as vendors struggled to meet with the higher demand especially in the Medium amp Heavy CommercialVehicle segments

In addition after the strong pre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in theMampHCV and buses at 8-10 percent) demand for BS-IV vehicles was also weak Commercial vehicle domestic sales in April stood at16017 units lower by 36 percent over April 2016 The company says this is an unusual decline in exceptional circumstances

Tata Motors expects production wholesales and retails to pick up in May and June

Tata Motors passenger and commercial vehicle total sales (including exports) in April 2017 stood at 30972 vehicles a de-growth of

21 percent over 39389 vehicles sold in April 2016 The companyamprsquos domestic sales of commercial and passenger vehicles forApril 2017 were at 28844 units down by 19 percent over 35604 units in April 2016

Mayank Pareek president Passenger Vehicles Business Unit of Tata Motors said ampldquoWhile the industry faced short-termheadwinds further to the BS- III verdict Tata Motors continued its robust sales performance with a growth of 23 percent in April ledby a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata Hexa We hope to see this momentumcontinue with an encouraging growth on the back of our strong product portfolioamprdquo

Tata Motors registered consolidated revenues of Rs 275561 crore in 2015-16 Through subsidiaries and associate companiesTata Motors has operations in the UK South Korea Thailand South Africa and Indonesia

Tata cars buses and trucks are being marketed in several countries in Europe Africa the Middle East South Asia South EastAsia South America Australia CIS and Russia

Nissan Motor IndiaNissan Motor Indiaamprsquos wholesale deliveries reported an uptick of 39 percent in April 2017 to 4217 vehicles The company in astatement has credited this growth in sales to customer demand for the Datsun redi-GO and the recently introduced new NissanTerrano

The carmakers sales rose to 4217 vehicles in April 2017 from 3028 in April 2016

ampldquoWe usher in the new fiscal year with robust growth in terms of sales and positive sentimentamprdquo said Arun Malhotramanaging director of Nissan India ampldquoAcross India we are strengthening our footprint introducing products and services thatcustomers want and valueamprdquo

The Nissan Motor India group which manages sales and service support for the Nissan and Datsun brands announced plans in2016 to introduce a total of up to eight new models from the two brands to India by 2021

These new models include the launch of the X-Trail hybrid in 2017 that will enable the company to inch closer to its goal ofgarnering a 5 percent market share by 2020 Its alliance partner Renault India also plans to capture a 5 percent market share by2020 taking their total share in India to 10 percent

Toyota Kirloskar MotorToyota Kirloskar Motor the Indian arm of Japanese car maker Toyota Motor Corporation has registered a 52 percent sales growthin the domestic market and sold a total of 12948 units in the month of April 2017 according to a company statement

The automaker has exported 1109 units of the Etios series in April 2017 against 978 units during April 2016 growing 13 percent

The company has attributed this growth to the huge response for its new Fortuner that has sold 12200 units within six months of itslaunch

The new Corolla Altis has also received a favourable response In just one month of its launch the new Corolla Altis clocked agrowth of over 75 percent retaining its position as segment leader

N Raja director and senior VP ampndashsales and marketing TKM said ampldquoWe have been able to sustain a robust growth in themonth of April 2017 This growth has been propelled by the overwhelming response the new Fortuner has received Ever since itslaunch in India in 2009 the Fortuner has been an undisputed segment leaderamprdquo He added that the new Corolla Altis hadcontributed towards the monthly sales growth

Honda Cars India Honda Cars India has reported monthly domestic sales of 14480 units in April 2017 against 10486 units in the correspondingmonth last year growing 381 percent The companyamprsquos newly launched Honda WR-V has received 12000 bookings for theWR-V since its launch in mid-March while the new Honda City 2017 has received over 25000 bookings since its launch inmid-February

ampldquoHCIL sales continue to grow positively and we registered our higher ever April numbers backed by strong demand for NewCity 2017 and Honda WR-V The new fiscal year has begun on a positive note and we hope to continue the growthmomentumamprdquo said Yoichiro Ueno president and CEO

HCIL also exported a total of 442 units in April 2017 Honda imported 30 units of the Accord hybrid in March and sold 28 unitsduring March and 1 unit in April

India Yamaha MotorThe company strengthened its position by clocking domestic sales of 68827 units (including Nepal) in 2017 compared to 63927units (including Nepal) in 2016 growing 8 percent in the domestic market

Recently Yamaha launched its all new powerful 249 cc mid-class Street Fighter motorcycle FZ25 in India to further boost its sharein the premium segment

Driven by its new product line up and its focus on expanding to tier-II and III cities by which it has been able to reach a larger targetpopulation has been instrumental in boosting its sales

Roy Kurian senior VP sales and marketing Yamaha Motor India Sales said ampldquoAs the company is eyeing to achieve 1 millionsales in 2017 it has introduced FZ 25 the macho street bike to cater to the premium segments that mostly dominates the urbanmarket On the other hand the company will remain vigilant to tier II and tier III markets that could see reasonable surge in scootersalesamprdquo

Hero MotoCorpIndias largest two-wheeler manufacturer Hero MotoCorp in a BSE filing reported its wholesale sales of 591306 units in April 2017declining by 349 percent The company sold a total of 612739 units in April 2016

Hero MotoCorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to rise incommodity prices from May 1 2017

The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in view of transition from BS- III to BS-IVvehicles With the ongoing marriage season the company expects to maintain the trend of robust sales in May said the companystatement

Hero MotoCorp has now spread its wings globally with presence in 35 countries across Asia Africa Central and South America

Royal EnfieldRoyal Enfield sold a total of 60142 units (including exports) during April 2017 posting a 25 percent growth The company sold atotal of 48197 units in April 2016 the company said in a BSE filing

Royal Enfield motorcycles with engine capacity of upto 350cc saw an uptick of 30 percent as they dominated the companys saleschart by selling 56349 units in April 2017

Motorcycles above 350cc which include the Royal Enfield Continental GT Royal Enfield Bullet 500 and Royal Enfield Classic 500saw a sales decline by 23 percent as the company managed to sell only 3793 units last month against 4938 units in April 2016

Royal Enfields exports rose by 36 percent as the company exported 1578 units in April 2017 The company also announced directoperations in Brazil last month to strengthen its presence in Latin America

Honda Motorcycle amp Scooter IndiaHonda Motorcycle amp Scooter India (HMSI) has achieved its highest ever sales of 578929 two-wheelers growing 34 percent in asingle month The companyamprsquos domestic market share crossed 30 percent for the first time rising 6 percent to 33 percentExports share rose 5 percent to 305 percent including both domestic and exports

Recently HMSI had declared its target of reaching 6 million units in FYamprsquo2017-18 Yadvinder Singh Guleria senior VP - salesand marketing said ampldquoHonda sold a total of 578929 two-wheelers with a phenomenal 34 percent growth on the back ofcustomer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Honda two-wheeler sales increased 33percent to an all-time high of 551884 units with over 30 percent market share (33) for the first time ever

Within segments automatic scooter sales led the momentum with 40 percent growth to cross 35 lakh mark for first time ever(368618 units) while motorcycle sales recorded a robust 22 percent growth Not only domestic but exports of Honda Two-WheelersIndia also saw a jump of close to 60 percent over April 2016amprdquo

VE Commercial VehiclesVE Commercial Vehicles (a Volvo Group and Eicher Motors joint venture) has sold 3089 units in April 2017 compared to 5365 unitsin April 2016 recording an overall decline of 424 percent This includes 3077 units of the Eicher brand and 12 units of the Volvobrand according to a company statement

Eicher branded trucks and buses have recorded total sales of 3077 units in April 2017 compared to 5326 units in April 2016representing a decline of 4222 percent

In the domestic CV market Eicher branded trucks and buses have recorded sales of 2578 units in April 2017 compared to 4641units in April 2016 representing a decline of 445 percent On the exports front Eicher branded trucks and buses recorded total salesof 499 units in April 2017 compared to 685 units in April 2016 representing a decline of 272 percent

Volvo Trucks has recorded sales of 12 units in April 2017 compared to 39 units in April 2016 representing a decline of 692 percent

Ashok LeylandContinuing with the decline in the commercial vehicle segment CV maker Ashok Leyland has posted a decline of 30 percent withsales of 7083 units in April 2017 against 10182 units in April 2016

Medium and Heavy Commercial Vehicles de-grew by 43 percent from 7873 units in April 2016 to 4525 units in April 2017 In theLCV category sales grew 11 percent with sales of 2558 units in April 2017 against 2309 units in the same month last yearhttpautoeconomictimesindiatimescomnewsindustrycomplete-sales-analysis-for-april-201758478717Car sales zoom over 16 in April Maruti Tata Honda contribute the most(Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniescar-sales-zoom-over-16-in-april-maruti-tata-honda-contribute-the-most-117050100739_1html

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Mahindra Auto domestic sales down 4 in April tractor sales rise 21 The Economic Times (Web Edition)

Mumbai Indian utility vehicle manufacturer Mahindra amp Mahindra has witnessed 4 percent in domestic sales in auto sector for themonth of April 2017 and stood at 37829 units informed the company in a Bombay Stock Exchange (BSE) filing

The companys exports declined by 39 percent and stood at 1528 units as against 2506 units during April 2016 Mahindra amp

Mahindra auto sectors cumulative sales for the month registered de-growth of 6 percent at 39357 units

The automaker sold 19325 passenger vehicles during April 2017 when compared with 22655 units in April 2016 thereby seeingyear-on-year decline of 15 percent Its commercial vehicle segment grew by 16 percent at 15066 units

Mahindra three-wheeler sales decreased by 8 percent during April 2017 at 3438 units

Rajan Wadhera President Automotive Sector Mahindra amp Mahindra said We are hopeful that the new financial year will bring inpositive sentiments for the automotive industry with the key demand drivers in place

Factors such as he ongoing infrastructure development initiatives outlook for a normal monsoon and the expectation of a stablepolicy environment will fuel growth in the coming days Going forward we are looking for a good growth momentum with ourplanned refreshes during FY18

Mahindra Tractor Sales PerformanceThe farm equipment sector of Mahindra amp Mahindra has sold 25081 tractors for the month of April 2017 in domestic marketthereby posting growth of 21 percent

Mahindra Tractors have exported 920 units when compared with 682 units during April 2016 registering growth of 35 percent Itscumulative sales for the month stood at 26001 with year-on-year growth of 22 percent

Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra said We expect that the prediction of a normalmonsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvmahindra-auto-domestic-sales-down-4-in-april58472374Mahindra reports decline in car sale units in AprilAsian Age (Web Edition)httpwwwasianagecombusinesscompanies020517mahindra-reports-decline-in-car-sale-units-in-aprilhtmlMahindra sales decline 6 to 39357 units in Aprilmint (Web Edition)httpwwwlivemintcomCompaniesUTUCweictRah9M2V8G7D2MMahindra-sales-decline-6-to-39357-units-in-AprilhtmlMampM sales decline 6 to 39357 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniesm-m-sales-decline-6-to-39-357-units-in-april-117050200367_1html

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TUV SUD to conduct audits for auto Inc to comply with global standards The Economic Times (Web Edition)

New Delhi German safety and quality automotive solution provider TUumlV SUumlD will conduct transition and initial audits for automotivemanufacturers for compliance with IATF 16949 a new global industry standard

The solutions provider said in a statement IATF 16949 plays an essential role in ensuring quality requirements are met therebyreducing the risk of product and service failure for automotive production service andor accessory parts organisations Certificationto IATF 16949 is mandatory for organisations who wish to manufacture parts for the automotive industry

As an IATF-recognised certification body TUumlV SUumlD will conduct transition for organisations currently certified to ISOTS 16949 andinitial audits for organisations requiring automotive certification

For manufacturers partnering with TUumlV SUumlD for the first time pre-assessments might be undertaken to analyse organisationalreadiness for certification against IATF 16949 on request of the organisations As part of IATF 16949 services TUumlV SUumlD willenable automotive manufactures to gain a competitive edgehttpautoeconomictimesindiatimescomnewsindustrytuv-sud-to-conduct-audits-for-auto-inc-to-comply-with-global-standards58481533

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Electric vehicles market faces financing infrastructure challenges report Utpal Bhaskarmint

New Delhi The Indian electric vehicles (EV) market poses formidable challenges for policymakers according to consulting firmBridge to India

This comes in the backdrop of the National Democratic Alliance (NDA) governmentamprsquos ambitious plan for an all-EV fleet by2030 even as the sales numbers have not been picking up to help reach the Centreamprsquos target of 6 million EV sales by 2020

ampldquoGrowth in electric vehicles can facilitate greatly in energy transition but the market poses formidable infrastructure andfinancing challenges for Indian policy makersamprdquo Bridge to India wrote in a 1 May note

EV sales in India grew by 375 to 22000 units in the year ended 31 March 2016 according to industry lobby group Society ofManufacturers of Electric Vehicles Of these only 2000 units were four-wheelers

The Bridge to India note also compared the EV markets of India and China

ampldquoIndia has made little progress in electric mobility since the announcement of the National Electric Mobility Mission Plan in2013 aiming for over 6 million electrichybrid vehicles by 2020amprdquo the note said adding ampldquoIn comparison China is aworld leader in electric vehicles with over 50 global annual market share Local manufacturers such as BYD and BAIC are worldleaders in this market The country is considering ramping up progress even further and wants 8 of all vehicles to be electricallypowered by next yearamprdquo

The Indian government has been trying to push sales of EVs The Centre is exploring measures ranging from leasing of EVs totransferring technology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centrefor use in automobiles It is also exploring a strategy that involves reducing the battery size to bring down EV prices

ampldquoElectric vehicles market is growing rapidly worldwide fuelled by stricter environmental measures technology improvementsand cost reduction in energy storage It is also seen as a vital link in achieving energy transition That explains the lead taken by thepower minister Piyush Goyal on the electric mobility initiative despite automobiles falling under the ambit of the Ministry of HeavyIndustriesamprdquo the note added

Goyal has stated that the growth of solar power and EVs in India are inextricably linked given that EVs have batteries that can offera storage solution to the countryamprsquos clean energy push As solar power generated during the day needs to be stored inbatteries the storage capability of EV batteries could help with grid balancing

India plans to achieve 175 GW of renewable energy capacity by 2022 Of this 100GW is set to come from solar projects

ampldquoGrowth in sales of electric vehicles will lead to more demand for (renewable) power help in creating a flexible demandsource to tackle intermittency issues of renewable power and reduce reliance on (mostly imported) oilamprdquo the note said

Shifting to EVs will also check pollution and fuel imports India the biggest emitter of greenhouse gases after the US and Chinaplans to reduce its carbon footprint by 33-35 from its 2005 levels by 2030 as part of its commitments to the United NationsFramework Convention on Climate Change adopted by 195 countries in Paris in 2015

ampldquoThe ambitions now need to be backed with actions But while India has a large domestic market it lacks the fiscal capabilityand ambition of China and the technology expertise of Japan or South Koreaamprdquo the note cautionedhttpwwwlivemintcomIndustryOaHPVDl3rJTeJAvaYF5EfLElectric-vehicles-market-faces-financing-infrastructure-chahtml

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Policy push to boost electric vehicle sales Ananth Padmanabhan amp Shashank Reddymint

Ashlee Vance in his recent biography Elon Musk Tesla SpaceX And The Quest For A Fantastic Future writes that Teslaamprsquosoriginal founders encountered few venture capitalist funds willing to advance relatively modest investments their way in 2003 ButTesla grew to dethrone General Motors a few weeks ago as Americaamprsquos most valued automobile company The resistance inits formative years and Teslaamprsquos astounding success thereafter share a common cause its exclusive focus on electric cars

Market sentiment has changed over the last 14 years because of several advantages offered by electric vehicles (EVs) EVs aremuch more eco-friendly than internal combustion engines They significantly reduce the oil import bill of nations bolstering energysecurity They can also be much cheaper than conventional vehicles in the long run due to fewer moving parts lower maintenancecosts and reduced fuel expenses

However in FY16 only 22000 EVs were sold in India of which approximately 2000 were cars and the rest two-wheelers InNorway EVs accounted for 23 of all new car sales in 2015 The figure for the same year stood at 9 in the Netherlands China isnow the largest market for electric buses with over 173000 of them on its roads In 2015 China also became the top electricpassenger car market globally Perceived from this lens the Indian market for EVs has seen minimal uptake

But hope is on the horizon with the Central governmentamprsquos renewed commitment to EVs especially for public transportationThis is critical considering how India lost out in the early phase of EV adoption 2013-14 was particularly bad as electrictwo-wheeler sales crashed to a mere 21000 units from 100000 two years prior Nearly half the total number of e-bike distributorsclosed shop during that period Though the National Electric Mobility Mission Plan (Nemmp) 2020 generated positive buzz whenlaunched in January 2013 subsidies and incentives promised by the plan were difficult to come by Several new players in thissector wound up leading to a loss of innovative capabilities and solutions

On the contrary the Faster Adoption and Manufacturing of (Hybrid amp) Electric Vehicles in India (FAME) scheme launched in 2015seeks to tackle the pain points largely unaddressed by Nemmp in its first phase To overcome the scattered presence of chargingstations and the additional barrier of still-expensive batteries the Narendra Modi government is contemplating a policy push for thesale of EVs without batteries supplemented with battery leasing operations and battery swap stations This is an important stepconsidering most projections (except Teslaamprsquos own aggressive 2020 deadline) place somewhere between 2025-30 as theperiod when battery pack prices will fall below the current gold standard of $100 per kWh India cannot afford to wait that long

The xEV One consortium a collaborative effort between the government of India and car manufacturers to develop a supplier basefor critical hybrid and EV components started off on a wrong footing with Maruti Suzuki and Ford India backing out But thegovernment appears committed to the driving philosophy behind the consortiumampmdashpublic-private collaboration A recentpartnership with Ola Cabs pursuant to Masayoshi Son of SoftBank (Olaamprsquos investor) committing to a million EVs that aims tointroduce a fleet of 300 electric cars in Nagpur is a case in point

More policy innovations both from the Centre and the states are required to ensure the success of these green initiatives Thesesteps can be structured around three key themes The first and perhaps the most obvious is the targeting of direct sops andincentives for EV and component manufacturers as well as consumers From the supply side such interventions includespeed-tracking of environmental and labour clearances tax rebates and exemptions Demand-side interventions include directconsumer subsidies waiver of road tax and registration fees GST (goods and services tax) refunds and free parking spaces

The second step must be a renewed commitment on the part of governments to provide and promote greater public infrastructurefor EVs including public charging stations dedicated electric supply lines for such stations and battery swap stations Doing so willinfuse much-needed trust and confidence in this mobility solution As seen from the earlier failure of Nemmp financial incentives donot work by themselves

Third and equally important is a big boost for RampD (research and development) innovation in this space In February 2016 aTechnology Platform for Electric Mobility was initiated jointly by the departments of heavy industries and science and technologyFive projects have been accurately identified therein for ampldquodemand driven RampD to achieve desirable targetspecsamprdquoampmdashlithium battery charging infrastructure driving cycle and traffic pattern motors and drives and lightweightingof EVs These are clearly the most critical areas for research and directing funding will be instrumental in meeting the Nemmptarget of six million EVshybrids by 2020 In addition a robust system of incentives for private entities spearheading EV innovationincluding tax credits for setting up research labs is crucial

EVs offer advantages that are particularly suited to Indiaamprsquos economic and environmental conditions India must move quicklyin this space both in terms of EV adoption and innovation to transition to a cleaner greener and more efficient age of mobilityhttpwwwlivemintcomOpinion24QvIByNFcKdpn1Rg1vhYKPolicy-push-to-boost-electric-vehicle-saleshtml

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Interviews amp Features

Cars SUVs MUVs

Petrol variant of Renault Duster with CVT gearbox launched at Rs 1032 lakh (Ex-Delhi) The Economic Times (Web Edition)

New Delhi Renault India in a press release announced the launch of Renault Duster petrol range with CVT (Continuously VariableTiming) transmission starting at Rs 1032 lakh (Ex-Delhi) The petrol variants of the Duster SUV is equipped with the 15L H4Kpetrol powertrain and is available in two trims RXE and RXL The CVT transmission is only available on the RXL variant

The petrol powertrain in the manual transmission (MT) is now offered at an introductory starting price of INR 849 Lakh (ex-Delhi)

Renault Duster CVT comes with easy selection drive modes ampndash P (Park) R (Reverse) N (Neutral) D (Drive) and a 6 speedmanual mode option

Commenting on the launch of the new Duster petrol range and the Duster CVT Sumit Sawhney Country CEO and ManagingDirector Renault India Operations said ampldquoWe have a clear goal of growing the Renault brand in India Towards this we arestrategically strengthening our product range expanding our network reach and initiating pioneering measures to ensure customerdelight

Duster plays a pivotal role in our product portfolio and with the introduction of the new petrol range with CVT Renault has thewidest offering in the segment enabling us to best cater to evolving customer needs We are confident that the new Duster petrolrange with the CVT will resonate well with discerning Indian customers in the fastest growing vehicle segment in Indiaamprdquo

The CVT is currently offered with 2WD and a 6-speed manual mode is also offered in the vehicle The Renault Duster CVT petrolgets a 15-litre four-cylinder engine unit that produces 106 PS amp 142 Nm of torque Renault India claims a mileage of 1499 kmpl onits petrol Duster with CVT gear box and 1419 kmpl on the manual gearbox

The company has sold over 16 lakh units of Duster SUV in India since its launch It is one of the best-selling SUVamprsquos for thecompany world-wide being marketed in over 100 countries and manufactured in 5 countries

Bookings for the New Duster petrol range in both MT and CVT versions have commenced across dealershipshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvpetrol-variant-of-renault-duster-with-cvt-gearbox-launched-at-rs-10-32-lakh-ex-delhi58477826Renault drives in Duster petrol with CVT at Rs 1032 lakhThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesrenault-drives-in-duster-petrol-with-cvt-at-rs-10-32-lakharticleshow58479398cms Renault drives in Duster petrol with CVT at Rs 1032 lakhDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-renault-drives-in-duster-petrol-with-cvt-at-rs-1032-lakh-2425171Renault Duster Petrol CVT automatic transmission variant launched at Rs 1032 lakhThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsrenault-duster-petrol-cvt-automatic-transmission-variant-launched-at-rs-10-32-lakh651110

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Maruti Suzuki hits new record high Sensex reclaims 30000-level Rahul OberoiThe Economic Times (Web Edition)

New Delhi Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after thecountryamprsquos largest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569units sold in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

The carmaker reported a 158 per cent rise in net profit at Rs 1709 crore for the fourth quarter of last financial year ended March31 2017 It had posted a net profit of Rs 14762 crore for the same period in the previous financial year

Net sales during the fourth quarter of 2016-17 rose to Rs 180052 crore up 203 per cent against the year-ago period

Brokerage house HDFC Securities is bullish on Maruti Suzuki ampldquoWith 20 per cent EPS CAGR over FY17-19E and structuralimprovement in RoE (at around 25 per cent by FY19E vs 10 year average of around 17 per cent) we maintain aamplsquoBuyamprsquo on Maruti with a target price of Rs 7070

According to Edelweiss Securities long waiting periods for key products a structured launch programme superior franchise andsolid financials (9 per cent free cash flow to sales RoE of around 225 per cent in FY19E) will enable Maruti Suzuki sustain marketshare gains ampldquoWe maintain amplsquoBuyamprsquo on Maruti with a target price of Rs 6928amprdquo Edelweiss said

Sensex reclaims 30000-levelBSE benchmark Sensex recouped over 134 points to trade above the 30000-mark in early trade on Tuesday on the back ofwidespread gains triggered by encouraging corporate earnings

The 30-share index rose by 13433 points or 044 per cent to 3005273 The gauge had lost 21495 points in the previous twosessions

All the sectoral indices led by consumer durables PSU metal auto bank and IT were trading in the positive zone rising by up to096 per cent

The Nifty also advanced 3775 points or 040 per cent to 934185

Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong autosales data in April month amid a mixed trend at other Asian bourses

Prominent gainers were Maruti Suzuki Hero MotoCorp ONGC Bajaj Auto HDFC Ltd Asian Paint TCS Tata Steel SBI AxisBank Adani Ports ITC Ltd ICICI Bank Infosys and Wipro

Among Asian markets Japans Nikkei was up 070 per cent while Hong Kongs Hang Seng gained 027 per cent in early tradetoday Shanghai Composite Index however fell 032 per cent

The US Dow Jones Industrial Average ended 013 per cent lower in yesterdays tradehttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-hits-new-record-high-sensex-reclaims-30000-level58470869Maruti shares up nearly 3 mcap surges by Rs 5442 crThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266eceMaruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh croreBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Maruti Suzuki drives into select club Ashutosh R ShyamThe Economic Times (Web amp Print Edition)

Maruti Suzuki has pipped global car majors Audi Hyundai Subaru and Renault to enter the club of top ten auto makers by marketcapitalisation reports Ashutosh R Shyam The high double-digit volume growth last month catapulted Marutis m-cap to Rs 2 lakhcrore ($3155 billion) on Tuesday a first for an Indian auto company

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

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Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

Top

International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 3: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

The Economic Times (Web Edition)

After creating history by crossing the 3 million mark in domestic sales and growing 923 percent during 2016-17 and 996 percentduring March 2017 passenger vehicles have continued their growth streak during April starting the financial year FYamprsquo18 on apromising note

Most of the passenger vehicle manufacturers have reported a double digit growth on the back of new product launches while thecommercial vehicle sector is in the red due to pre-buying preceding the rollout of the BS-IV emission norms from 1 April 2017 andthe price increase of BS-IV vehicles especially in the medium and heavy commercial vehicle segment and buses by 8-10 percent

The PV segment is forecast to grow in high single digits ranging between 7-9 percent during 2017-18 according to industry bodySIAM on the back of better Pay Commission payouts and a better agricultural crop sowing

With carmakers adding production capacity for instance Maruti Suzuki India at its Gujarat plant where it is making the BalenoRSand Baleno models waiting periods of popular models is set to come down as it eases pressure on its existing plants in Gurgaonand Manesar

Last year Maruti Suzuki was facing capacity constraints due to the huge demand for its Baleno and Vitara Brezza models and hadto slowly expand capacity at its Haryana facilities to meet their demand Now with the new generation Dzire to roll out on May 16the growth in Marutiamprsquos PV segment augurs well for the new hatchback

Maruti Suzuki IndiaThe countryamprsquos largest carmaker by volumes retained its numero uno position in FYamprsquo17 and continues to record its bestgrowth during April 2017 with monthly wholesales at 144492 units in the domestic market posting a growth of 234 percent overthe same month last year the company said in a statement Last April Maruti Suzuki sold 117045 units

April has been the best month for the carmaker in terms of its domestic sales since September 2016 when the company sold137277 units

The new Dzire will be added in the carmakers compact portfolio that has fared the best during April growing 39 percent over thesame month last year with the Swift Baleno Ignis and Dzire selling 63584 units

It is followed by the Vitara Brezza and other utility vehicles including the S-cross Gypsy and Ertiga that saw total sales of 20638units during April against 16044 units during the same month last year UVs grew by 2225 percent signaling the changingcustomer preferences Since their launch both the Baleno and the Vitara Brezza have been commanding long waiting periods of6-9 months for their top end variants

The mini segment comprising the Alto and Wagon R sold 38897 units last month compared to 31906 units in April 2016 registeringa 219 percent growth The Maruti Suzuki Ciaz has also done well and was recently shifted to the premium Nexa outlet as it hasbeen drawing large number of footfalls and outperforming competition in the mid-sedan segment Ciaz has witnessed sales of 7024units in the domestic market

However in exports Maruti Suzuki did not fare well declining by 294 percent exporting 6732 units in April 2017 against 9524 unitsin the same month last year

Hyundai Motor IndiaIndias second largest carmaker Hyundai Motor India grew 57 percent in domestic sales during April 2017 and delivered 44758units to its customers according to a company statement The automaker sold 42351 units during April 2016

The largest car exporter from India Hyundaiamprsquos exports de-grew by 38 percent It exported 11610 units during the monthagainst 12069 units exported during April 2016 But its cumulative sales for the month were up by 36 percent at 56368 units

Rakesh Srivastava director - sales and marketing HMIL said Hyundai with a volume of 44758 units continued its growthmomentum on a strong base of last year driven by response for the new family sedan Xcent and the Grand i10 Elite i20 and theCreta Recently Hyundai had launched the new Xcent in the market The existing Xcent will now cater to the taxi fleet segment

The carmaker currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent Verna CretaElantra Tucson and Santa Fe and exports to around 87 countries across Africa Middle East Latin America Australia and the AsiaPacific It also has plans to rollout another 8 new models by 2021

Tata MotorsThe home grown Tata Motors continued its growth momentum at sales of 12827 units in the domestic market for its passengervehicle segment growing 23 percent over April 2016 This was due to an encouraging response for its recently launched Tata HexaUV and its latest Styleback the Tata Tigor which maintains a good order book

However sales of Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 withthe ban on BS-III sales leading to the need for a higher quantity of BS-IV stock for April sales The higher demand at short noticewas not met in production as vendors struggled to meet with the higher demand especially in the Medium amp Heavy CommercialVehicle segments

In addition after the strong pre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in theMampHCV and buses at 8-10 percent) demand for BS-IV vehicles was also weak Commercial vehicle domestic sales in April stood at16017 units lower by 36 percent over April 2016 The company says this is an unusual decline in exceptional circumstances

Tata Motors expects production wholesales and retails to pick up in May and June

Tata Motors passenger and commercial vehicle total sales (including exports) in April 2017 stood at 30972 vehicles a de-growth of

21 percent over 39389 vehicles sold in April 2016 The companyamprsquos domestic sales of commercial and passenger vehicles forApril 2017 were at 28844 units down by 19 percent over 35604 units in April 2016

Mayank Pareek president Passenger Vehicles Business Unit of Tata Motors said ampldquoWhile the industry faced short-termheadwinds further to the BS- III verdict Tata Motors continued its robust sales performance with a growth of 23 percent in April ledby a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata Hexa We hope to see this momentumcontinue with an encouraging growth on the back of our strong product portfolioamprdquo

Tata Motors registered consolidated revenues of Rs 275561 crore in 2015-16 Through subsidiaries and associate companiesTata Motors has operations in the UK South Korea Thailand South Africa and Indonesia

Tata cars buses and trucks are being marketed in several countries in Europe Africa the Middle East South Asia South EastAsia South America Australia CIS and Russia

Nissan Motor IndiaNissan Motor Indiaamprsquos wholesale deliveries reported an uptick of 39 percent in April 2017 to 4217 vehicles The company in astatement has credited this growth in sales to customer demand for the Datsun redi-GO and the recently introduced new NissanTerrano

The carmakers sales rose to 4217 vehicles in April 2017 from 3028 in April 2016

ampldquoWe usher in the new fiscal year with robust growth in terms of sales and positive sentimentamprdquo said Arun Malhotramanaging director of Nissan India ampldquoAcross India we are strengthening our footprint introducing products and services thatcustomers want and valueamprdquo

The Nissan Motor India group which manages sales and service support for the Nissan and Datsun brands announced plans in2016 to introduce a total of up to eight new models from the two brands to India by 2021

These new models include the launch of the X-Trail hybrid in 2017 that will enable the company to inch closer to its goal ofgarnering a 5 percent market share by 2020 Its alliance partner Renault India also plans to capture a 5 percent market share by2020 taking their total share in India to 10 percent

Toyota Kirloskar MotorToyota Kirloskar Motor the Indian arm of Japanese car maker Toyota Motor Corporation has registered a 52 percent sales growthin the domestic market and sold a total of 12948 units in the month of April 2017 according to a company statement

The automaker has exported 1109 units of the Etios series in April 2017 against 978 units during April 2016 growing 13 percent

The company has attributed this growth to the huge response for its new Fortuner that has sold 12200 units within six months of itslaunch

The new Corolla Altis has also received a favourable response In just one month of its launch the new Corolla Altis clocked agrowth of over 75 percent retaining its position as segment leader

N Raja director and senior VP ampndashsales and marketing TKM said ampldquoWe have been able to sustain a robust growth in themonth of April 2017 This growth has been propelled by the overwhelming response the new Fortuner has received Ever since itslaunch in India in 2009 the Fortuner has been an undisputed segment leaderamprdquo He added that the new Corolla Altis hadcontributed towards the monthly sales growth

Honda Cars India Honda Cars India has reported monthly domestic sales of 14480 units in April 2017 against 10486 units in the correspondingmonth last year growing 381 percent The companyamprsquos newly launched Honda WR-V has received 12000 bookings for theWR-V since its launch in mid-March while the new Honda City 2017 has received over 25000 bookings since its launch inmid-February

ampldquoHCIL sales continue to grow positively and we registered our higher ever April numbers backed by strong demand for NewCity 2017 and Honda WR-V The new fiscal year has begun on a positive note and we hope to continue the growthmomentumamprdquo said Yoichiro Ueno president and CEO

HCIL also exported a total of 442 units in April 2017 Honda imported 30 units of the Accord hybrid in March and sold 28 unitsduring March and 1 unit in April

India Yamaha MotorThe company strengthened its position by clocking domestic sales of 68827 units (including Nepal) in 2017 compared to 63927units (including Nepal) in 2016 growing 8 percent in the domestic market

Recently Yamaha launched its all new powerful 249 cc mid-class Street Fighter motorcycle FZ25 in India to further boost its sharein the premium segment

Driven by its new product line up and its focus on expanding to tier-II and III cities by which it has been able to reach a larger targetpopulation has been instrumental in boosting its sales

Roy Kurian senior VP sales and marketing Yamaha Motor India Sales said ampldquoAs the company is eyeing to achieve 1 millionsales in 2017 it has introduced FZ 25 the macho street bike to cater to the premium segments that mostly dominates the urbanmarket On the other hand the company will remain vigilant to tier II and tier III markets that could see reasonable surge in scootersalesamprdquo

Hero MotoCorpIndias largest two-wheeler manufacturer Hero MotoCorp in a BSE filing reported its wholesale sales of 591306 units in April 2017declining by 349 percent The company sold a total of 612739 units in April 2016

Hero MotoCorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to rise incommodity prices from May 1 2017

The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in view of transition from BS- III to BS-IVvehicles With the ongoing marriage season the company expects to maintain the trend of robust sales in May said the companystatement

Hero MotoCorp has now spread its wings globally with presence in 35 countries across Asia Africa Central and South America

Royal EnfieldRoyal Enfield sold a total of 60142 units (including exports) during April 2017 posting a 25 percent growth The company sold atotal of 48197 units in April 2016 the company said in a BSE filing

Royal Enfield motorcycles with engine capacity of upto 350cc saw an uptick of 30 percent as they dominated the companys saleschart by selling 56349 units in April 2017

Motorcycles above 350cc which include the Royal Enfield Continental GT Royal Enfield Bullet 500 and Royal Enfield Classic 500saw a sales decline by 23 percent as the company managed to sell only 3793 units last month against 4938 units in April 2016

Royal Enfields exports rose by 36 percent as the company exported 1578 units in April 2017 The company also announced directoperations in Brazil last month to strengthen its presence in Latin America

Honda Motorcycle amp Scooter IndiaHonda Motorcycle amp Scooter India (HMSI) has achieved its highest ever sales of 578929 two-wheelers growing 34 percent in asingle month The companyamprsquos domestic market share crossed 30 percent for the first time rising 6 percent to 33 percentExports share rose 5 percent to 305 percent including both domestic and exports

Recently HMSI had declared its target of reaching 6 million units in FYamprsquo2017-18 Yadvinder Singh Guleria senior VP - salesand marketing said ampldquoHonda sold a total of 578929 two-wheelers with a phenomenal 34 percent growth on the back ofcustomer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Honda two-wheeler sales increased 33percent to an all-time high of 551884 units with over 30 percent market share (33) for the first time ever

Within segments automatic scooter sales led the momentum with 40 percent growth to cross 35 lakh mark for first time ever(368618 units) while motorcycle sales recorded a robust 22 percent growth Not only domestic but exports of Honda Two-WheelersIndia also saw a jump of close to 60 percent over April 2016amprdquo

VE Commercial VehiclesVE Commercial Vehicles (a Volvo Group and Eicher Motors joint venture) has sold 3089 units in April 2017 compared to 5365 unitsin April 2016 recording an overall decline of 424 percent This includes 3077 units of the Eicher brand and 12 units of the Volvobrand according to a company statement

Eicher branded trucks and buses have recorded total sales of 3077 units in April 2017 compared to 5326 units in April 2016representing a decline of 4222 percent

In the domestic CV market Eicher branded trucks and buses have recorded sales of 2578 units in April 2017 compared to 4641units in April 2016 representing a decline of 445 percent On the exports front Eicher branded trucks and buses recorded total salesof 499 units in April 2017 compared to 685 units in April 2016 representing a decline of 272 percent

Volvo Trucks has recorded sales of 12 units in April 2017 compared to 39 units in April 2016 representing a decline of 692 percent

Ashok LeylandContinuing with the decline in the commercial vehicle segment CV maker Ashok Leyland has posted a decline of 30 percent withsales of 7083 units in April 2017 against 10182 units in April 2016

Medium and Heavy Commercial Vehicles de-grew by 43 percent from 7873 units in April 2016 to 4525 units in April 2017 In theLCV category sales grew 11 percent with sales of 2558 units in April 2017 against 2309 units in the same month last yearhttpautoeconomictimesindiatimescomnewsindustrycomplete-sales-analysis-for-april-201758478717Car sales zoom over 16 in April Maruti Tata Honda contribute the most(Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniescar-sales-zoom-over-16-in-april-maruti-tata-honda-contribute-the-most-117050100739_1html

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Mahindra Auto domestic sales down 4 in April tractor sales rise 21 The Economic Times (Web Edition)

Mumbai Indian utility vehicle manufacturer Mahindra amp Mahindra has witnessed 4 percent in domestic sales in auto sector for themonth of April 2017 and stood at 37829 units informed the company in a Bombay Stock Exchange (BSE) filing

The companys exports declined by 39 percent and stood at 1528 units as against 2506 units during April 2016 Mahindra amp

Mahindra auto sectors cumulative sales for the month registered de-growth of 6 percent at 39357 units

The automaker sold 19325 passenger vehicles during April 2017 when compared with 22655 units in April 2016 thereby seeingyear-on-year decline of 15 percent Its commercial vehicle segment grew by 16 percent at 15066 units

Mahindra three-wheeler sales decreased by 8 percent during April 2017 at 3438 units

Rajan Wadhera President Automotive Sector Mahindra amp Mahindra said We are hopeful that the new financial year will bring inpositive sentiments for the automotive industry with the key demand drivers in place

Factors such as he ongoing infrastructure development initiatives outlook for a normal monsoon and the expectation of a stablepolicy environment will fuel growth in the coming days Going forward we are looking for a good growth momentum with ourplanned refreshes during FY18

Mahindra Tractor Sales PerformanceThe farm equipment sector of Mahindra amp Mahindra has sold 25081 tractors for the month of April 2017 in domestic marketthereby posting growth of 21 percent

Mahindra Tractors have exported 920 units when compared with 682 units during April 2016 registering growth of 35 percent Itscumulative sales for the month stood at 26001 with year-on-year growth of 22 percent

Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra said We expect that the prediction of a normalmonsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvmahindra-auto-domestic-sales-down-4-in-april58472374Mahindra reports decline in car sale units in AprilAsian Age (Web Edition)httpwwwasianagecombusinesscompanies020517mahindra-reports-decline-in-car-sale-units-in-aprilhtmlMahindra sales decline 6 to 39357 units in Aprilmint (Web Edition)httpwwwlivemintcomCompaniesUTUCweictRah9M2V8G7D2MMahindra-sales-decline-6-to-39357-units-in-AprilhtmlMampM sales decline 6 to 39357 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniesm-m-sales-decline-6-to-39-357-units-in-april-117050200367_1html

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TUV SUD to conduct audits for auto Inc to comply with global standards The Economic Times (Web Edition)

New Delhi German safety and quality automotive solution provider TUumlV SUumlD will conduct transition and initial audits for automotivemanufacturers for compliance with IATF 16949 a new global industry standard

The solutions provider said in a statement IATF 16949 plays an essential role in ensuring quality requirements are met therebyreducing the risk of product and service failure for automotive production service andor accessory parts organisations Certificationto IATF 16949 is mandatory for organisations who wish to manufacture parts for the automotive industry

As an IATF-recognised certification body TUumlV SUumlD will conduct transition for organisations currently certified to ISOTS 16949 andinitial audits for organisations requiring automotive certification

For manufacturers partnering with TUumlV SUumlD for the first time pre-assessments might be undertaken to analyse organisationalreadiness for certification against IATF 16949 on request of the organisations As part of IATF 16949 services TUumlV SUumlD willenable automotive manufactures to gain a competitive edgehttpautoeconomictimesindiatimescomnewsindustrytuv-sud-to-conduct-audits-for-auto-inc-to-comply-with-global-standards58481533

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Electric vehicles market faces financing infrastructure challenges report Utpal Bhaskarmint

New Delhi The Indian electric vehicles (EV) market poses formidable challenges for policymakers according to consulting firmBridge to India

This comes in the backdrop of the National Democratic Alliance (NDA) governmentamprsquos ambitious plan for an all-EV fleet by2030 even as the sales numbers have not been picking up to help reach the Centreamprsquos target of 6 million EV sales by 2020

ampldquoGrowth in electric vehicles can facilitate greatly in energy transition but the market poses formidable infrastructure andfinancing challenges for Indian policy makersamprdquo Bridge to India wrote in a 1 May note

EV sales in India grew by 375 to 22000 units in the year ended 31 March 2016 according to industry lobby group Society ofManufacturers of Electric Vehicles Of these only 2000 units were four-wheelers

The Bridge to India note also compared the EV markets of India and China

ampldquoIndia has made little progress in electric mobility since the announcement of the National Electric Mobility Mission Plan in2013 aiming for over 6 million electrichybrid vehicles by 2020amprdquo the note said adding ampldquoIn comparison China is aworld leader in electric vehicles with over 50 global annual market share Local manufacturers such as BYD and BAIC are worldleaders in this market The country is considering ramping up progress even further and wants 8 of all vehicles to be electricallypowered by next yearamprdquo

The Indian government has been trying to push sales of EVs The Centre is exploring measures ranging from leasing of EVs totransferring technology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centrefor use in automobiles It is also exploring a strategy that involves reducing the battery size to bring down EV prices

ampldquoElectric vehicles market is growing rapidly worldwide fuelled by stricter environmental measures technology improvementsand cost reduction in energy storage It is also seen as a vital link in achieving energy transition That explains the lead taken by thepower minister Piyush Goyal on the electric mobility initiative despite automobiles falling under the ambit of the Ministry of HeavyIndustriesamprdquo the note added

Goyal has stated that the growth of solar power and EVs in India are inextricably linked given that EVs have batteries that can offera storage solution to the countryamprsquos clean energy push As solar power generated during the day needs to be stored inbatteries the storage capability of EV batteries could help with grid balancing

India plans to achieve 175 GW of renewable energy capacity by 2022 Of this 100GW is set to come from solar projects

ampldquoGrowth in sales of electric vehicles will lead to more demand for (renewable) power help in creating a flexible demandsource to tackle intermittency issues of renewable power and reduce reliance on (mostly imported) oilamprdquo the note said

Shifting to EVs will also check pollution and fuel imports India the biggest emitter of greenhouse gases after the US and Chinaplans to reduce its carbon footprint by 33-35 from its 2005 levels by 2030 as part of its commitments to the United NationsFramework Convention on Climate Change adopted by 195 countries in Paris in 2015

ampldquoThe ambitions now need to be backed with actions But while India has a large domestic market it lacks the fiscal capabilityand ambition of China and the technology expertise of Japan or South Koreaamprdquo the note cautionedhttpwwwlivemintcomIndustryOaHPVDl3rJTeJAvaYF5EfLElectric-vehicles-market-faces-financing-infrastructure-chahtml

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Policy push to boost electric vehicle sales Ananth Padmanabhan amp Shashank Reddymint

Ashlee Vance in his recent biography Elon Musk Tesla SpaceX And The Quest For A Fantastic Future writes that Teslaamprsquosoriginal founders encountered few venture capitalist funds willing to advance relatively modest investments their way in 2003 ButTesla grew to dethrone General Motors a few weeks ago as Americaamprsquos most valued automobile company The resistance inits formative years and Teslaamprsquos astounding success thereafter share a common cause its exclusive focus on electric cars

Market sentiment has changed over the last 14 years because of several advantages offered by electric vehicles (EVs) EVs aremuch more eco-friendly than internal combustion engines They significantly reduce the oil import bill of nations bolstering energysecurity They can also be much cheaper than conventional vehicles in the long run due to fewer moving parts lower maintenancecosts and reduced fuel expenses

However in FY16 only 22000 EVs were sold in India of which approximately 2000 were cars and the rest two-wheelers InNorway EVs accounted for 23 of all new car sales in 2015 The figure for the same year stood at 9 in the Netherlands China isnow the largest market for electric buses with over 173000 of them on its roads In 2015 China also became the top electricpassenger car market globally Perceived from this lens the Indian market for EVs has seen minimal uptake

But hope is on the horizon with the Central governmentamprsquos renewed commitment to EVs especially for public transportationThis is critical considering how India lost out in the early phase of EV adoption 2013-14 was particularly bad as electrictwo-wheeler sales crashed to a mere 21000 units from 100000 two years prior Nearly half the total number of e-bike distributorsclosed shop during that period Though the National Electric Mobility Mission Plan (Nemmp) 2020 generated positive buzz whenlaunched in January 2013 subsidies and incentives promised by the plan were difficult to come by Several new players in thissector wound up leading to a loss of innovative capabilities and solutions

On the contrary the Faster Adoption and Manufacturing of (Hybrid amp) Electric Vehicles in India (FAME) scheme launched in 2015seeks to tackle the pain points largely unaddressed by Nemmp in its first phase To overcome the scattered presence of chargingstations and the additional barrier of still-expensive batteries the Narendra Modi government is contemplating a policy push for thesale of EVs without batteries supplemented with battery leasing operations and battery swap stations This is an important stepconsidering most projections (except Teslaamprsquos own aggressive 2020 deadline) place somewhere between 2025-30 as theperiod when battery pack prices will fall below the current gold standard of $100 per kWh India cannot afford to wait that long

The xEV One consortium a collaborative effort between the government of India and car manufacturers to develop a supplier basefor critical hybrid and EV components started off on a wrong footing with Maruti Suzuki and Ford India backing out But thegovernment appears committed to the driving philosophy behind the consortiumampmdashpublic-private collaboration A recentpartnership with Ola Cabs pursuant to Masayoshi Son of SoftBank (Olaamprsquos investor) committing to a million EVs that aims tointroduce a fleet of 300 electric cars in Nagpur is a case in point

More policy innovations both from the Centre and the states are required to ensure the success of these green initiatives Thesesteps can be structured around three key themes The first and perhaps the most obvious is the targeting of direct sops andincentives for EV and component manufacturers as well as consumers From the supply side such interventions includespeed-tracking of environmental and labour clearances tax rebates and exemptions Demand-side interventions include directconsumer subsidies waiver of road tax and registration fees GST (goods and services tax) refunds and free parking spaces

The second step must be a renewed commitment on the part of governments to provide and promote greater public infrastructurefor EVs including public charging stations dedicated electric supply lines for such stations and battery swap stations Doing so willinfuse much-needed trust and confidence in this mobility solution As seen from the earlier failure of Nemmp financial incentives donot work by themselves

Third and equally important is a big boost for RampD (research and development) innovation in this space In February 2016 aTechnology Platform for Electric Mobility was initiated jointly by the departments of heavy industries and science and technologyFive projects have been accurately identified therein for ampldquodemand driven RampD to achieve desirable targetspecsamprdquoampmdashlithium battery charging infrastructure driving cycle and traffic pattern motors and drives and lightweightingof EVs These are clearly the most critical areas for research and directing funding will be instrumental in meeting the Nemmptarget of six million EVshybrids by 2020 In addition a robust system of incentives for private entities spearheading EV innovationincluding tax credits for setting up research labs is crucial

EVs offer advantages that are particularly suited to Indiaamprsquos economic and environmental conditions India must move quicklyin this space both in terms of EV adoption and innovation to transition to a cleaner greener and more efficient age of mobilityhttpwwwlivemintcomOpinion24QvIByNFcKdpn1Rg1vhYKPolicy-push-to-boost-electric-vehicle-saleshtml

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Interviews amp Features

Cars SUVs MUVs

Petrol variant of Renault Duster with CVT gearbox launched at Rs 1032 lakh (Ex-Delhi) The Economic Times (Web Edition)

New Delhi Renault India in a press release announced the launch of Renault Duster petrol range with CVT (Continuously VariableTiming) transmission starting at Rs 1032 lakh (Ex-Delhi) The petrol variants of the Duster SUV is equipped with the 15L H4Kpetrol powertrain and is available in two trims RXE and RXL The CVT transmission is only available on the RXL variant

The petrol powertrain in the manual transmission (MT) is now offered at an introductory starting price of INR 849 Lakh (ex-Delhi)

Renault Duster CVT comes with easy selection drive modes ampndash P (Park) R (Reverse) N (Neutral) D (Drive) and a 6 speedmanual mode option

Commenting on the launch of the new Duster petrol range and the Duster CVT Sumit Sawhney Country CEO and ManagingDirector Renault India Operations said ampldquoWe have a clear goal of growing the Renault brand in India Towards this we arestrategically strengthening our product range expanding our network reach and initiating pioneering measures to ensure customerdelight

Duster plays a pivotal role in our product portfolio and with the introduction of the new petrol range with CVT Renault has thewidest offering in the segment enabling us to best cater to evolving customer needs We are confident that the new Duster petrolrange with the CVT will resonate well with discerning Indian customers in the fastest growing vehicle segment in Indiaamprdquo

The CVT is currently offered with 2WD and a 6-speed manual mode is also offered in the vehicle The Renault Duster CVT petrolgets a 15-litre four-cylinder engine unit that produces 106 PS amp 142 Nm of torque Renault India claims a mileage of 1499 kmpl onits petrol Duster with CVT gear box and 1419 kmpl on the manual gearbox

The company has sold over 16 lakh units of Duster SUV in India since its launch It is one of the best-selling SUVamprsquos for thecompany world-wide being marketed in over 100 countries and manufactured in 5 countries

Bookings for the New Duster petrol range in both MT and CVT versions have commenced across dealershipshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvpetrol-variant-of-renault-duster-with-cvt-gearbox-launched-at-rs-10-32-lakh-ex-delhi58477826Renault drives in Duster petrol with CVT at Rs 1032 lakhThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesrenault-drives-in-duster-petrol-with-cvt-at-rs-10-32-lakharticleshow58479398cms Renault drives in Duster petrol with CVT at Rs 1032 lakhDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-renault-drives-in-duster-petrol-with-cvt-at-rs-1032-lakh-2425171Renault Duster Petrol CVT automatic transmission variant launched at Rs 1032 lakhThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsrenault-duster-petrol-cvt-automatic-transmission-variant-launched-at-rs-10-32-lakh651110

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Maruti Suzuki hits new record high Sensex reclaims 30000-level Rahul OberoiThe Economic Times (Web Edition)

New Delhi Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after thecountryamprsquos largest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569units sold in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

The carmaker reported a 158 per cent rise in net profit at Rs 1709 crore for the fourth quarter of last financial year ended March31 2017 It had posted a net profit of Rs 14762 crore for the same period in the previous financial year

Net sales during the fourth quarter of 2016-17 rose to Rs 180052 crore up 203 per cent against the year-ago period

Brokerage house HDFC Securities is bullish on Maruti Suzuki ampldquoWith 20 per cent EPS CAGR over FY17-19E and structuralimprovement in RoE (at around 25 per cent by FY19E vs 10 year average of around 17 per cent) we maintain aamplsquoBuyamprsquo on Maruti with a target price of Rs 7070

According to Edelweiss Securities long waiting periods for key products a structured launch programme superior franchise andsolid financials (9 per cent free cash flow to sales RoE of around 225 per cent in FY19E) will enable Maruti Suzuki sustain marketshare gains ampldquoWe maintain amplsquoBuyamprsquo on Maruti with a target price of Rs 6928amprdquo Edelweiss said

Sensex reclaims 30000-levelBSE benchmark Sensex recouped over 134 points to trade above the 30000-mark in early trade on Tuesday on the back ofwidespread gains triggered by encouraging corporate earnings

The 30-share index rose by 13433 points or 044 per cent to 3005273 The gauge had lost 21495 points in the previous twosessions

All the sectoral indices led by consumer durables PSU metal auto bank and IT were trading in the positive zone rising by up to096 per cent

The Nifty also advanced 3775 points or 040 per cent to 934185

Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong autosales data in April month amid a mixed trend at other Asian bourses

Prominent gainers were Maruti Suzuki Hero MotoCorp ONGC Bajaj Auto HDFC Ltd Asian Paint TCS Tata Steel SBI AxisBank Adani Ports ITC Ltd ICICI Bank Infosys and Wipro

Among Asian markets Japans Nikkei was up 070 per cent while Hong Kongs Hang Seng gained 027 per cent in early tradetoday Shanghai Composite Index however fell 032 per cent

The US Dow Jones Industrial Average ended 013 per cent lower in yesterdays tradehttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-hits-new-record-high-sensex-reclaims-30000-level58470869Maruti shares up nearly 3 mcap surges by Rs 5442 crThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266eceMaruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh croreBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Maruti Suzuki drives into select club Ashutosh R ShyamThe Economic Times (Web amp Print Edition)

Maruti Suzuki has pipped global car majors Audi Hyundai Subaru and Renault to enter the club of top ten auto makers by marketcapitalisation reports Ashutosh R Shyam The high double-digit volume growth last month catapulted Marutis m-cap to Rs 2 lakhcrore ($3155 billion) on Tuesday a first for an Indian auto company

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

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Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 4: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

21 percent over 39389 vehicles sold in April 2016 The companyamprsquos domestic sales of commercial and passenger vehicles forApril 2017 were at 28844 units down by 19 percent over 35604 units in April 2016

Mayank Pareek president Passenger Vehicles Business Unit of Tata Motors said ampldquoWhile the industry faced short-termheadwinds further to the BS- III verdict Tata Motors continued its robust sales performance with a growth of 23 percent in April ledby a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata Hexa We hope to see this momentumcontinue with an encouraging growth on the back of our strong product portfolioamprdquo

Tata Motors registered consolidated revenues of Rs 275561 crore in 2015-16 Through subsidiaries and associate companiesTata Motors has operations in the UK South Korea Thailand South Africa and Indonesia

Tata cars buses and trucks are being marketed in several countries in Europe Africa the Middle East South Asia South EastAsia South America Australia CIS and Russia

Nissan Motor IndiaNissan Motor Indiaamprsquos wholesale deliveries reported an uptick of 39 percent in April 2017 to 4217 vehicles The company in astatement has credited this growth in sales to customer demand for the Datsun redi-GO and the recently introduced new NissanTerrano

The carmakers sales rose to 4217 vehicles in April 2017 from 3028 in April 2016

ampldquoWe usher in the new fiscal year with robust growth in terms of sales and positive sentimentamprdquo said Arun Malhotramanaging director of Nissan India ampldquoAcross India we are strengthening our footprint introducing products and services thatcustomers want and valueamprdquo

The Nissan Motor India group which manages sales and service support for the Nissan and Datsun brands announced plans in2016 to introduce a total of up to eight new models from the two brands to India by 2021

These new models include the launch of the X-Trail hybrid in 2017 that will enable the company to inch closer to its goal ofgarnering a 5 percent market share by 2020 Its alliance partner Renault India also plans to capture a 5 percent market share by2020 taking their total share in India to 10 percent

Toyota Kirloskar MotorToyota Kirloskar Motor the Indian arm of Japanese car maker Toyota Motor Corporation has registered a 52 percent sales growthin the domestic market and sold a total of 12948 units in the month of April 2017 according to a company statement

The automaker has exported 1109 units of the Etios series in April 2017 against 978 units during April 2016 growing 13 percent

The company has attributed this growth to the huge response for its new Fortuner that has sold 12200 units within six months of itslaunch

The new Corolla Altis has also received a favourable response In just one month of its launch the new Corolla Altis clocked agrowth of over 75 percent retaining its position as segment leader

N Raja director and senior VP ampndashsales and marketing TKM said ampldquoWe have been able to sustain a robust growth in themonth of April 2017 This growth has been propelled by the overwhelming response the new Fortuner has received Ever since itslaunch in India in 2009 the Fortuner has been an undisputed segment leaderamprdquo He added that the new Corolla Altis hadcontributed towards the monthly sales growth

Honda Cars India Honda Cars India has reported monthly domestic sales of 14480 units in April 2017 against 10486 units in the correspondingmonth last year growing 381 percent The companyamprsquos newly launched Honda WR-V has received 12000 bookings for theWR-V since its launch in mid-March while the new Honda City 2017 has received over 25000 bookings since its launch inmid-February

ampldquoHCIL sales continue to grow positively and we registered our higher ever April numbers backed by strong demand for NewCity 2017 and Honda WR-V The new fiscal year has begun on a positive note and we hope to continue the growthmomentumamprdquo said Yoichiro Ueno president and CEO

HCIL also exported a total of 442 units in April 2017 Honda imported 30 units of the Accord hybrid in March and sold 28 unitsduring March and 1 unit in April

India Yamaha MotorThe company strengthened its position by clocking domestic sales of 68827 units (including Nepal) in 2017 compared to 63927units (including Nepal) in 2016 growing 8 percent in the domestic market

Recently Yamaha launched its all new powerful 249 cc mid-class Street Fighter motorcycle FZ25 in India to further boost its sharein the premium segment

Driven by its new product line up and its focus on expanding to tier-II and III cities by which it has been able to reach a larger targetpopulation has been instrumental in boosting its sales

Roy Kurian senior VP sales and marketing Yamaha Motor India Sales said ampldquoAs the company is eyeing to achieve 1 millionsales in 2017 it has introduced FZ 25 the macho street bike to cater to the premium segments that mostly dominates the urbanmarket On the other hand the company will remain vigilant to tier II and tier III markets that could see reasonable surge in scootersalesamprdquo

Hero MotoCorpIndias largest two-wheeler manufacturer Hero MotoCorp in a BSE filing reported its wholesale sales of 591306 units in April 2017declining by 349 percent The company sold a total of 612739 units in April 2016

Hero MotoCorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to rise incommodity prices from May 1 2017

The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in view of transition from BS- III to BS-IVvehicles With the ongoing marriage season the company expects to maintain the trend of robust sales in May said the companystatement

Hero MotoCorp has now spread its wings globally with presence in 35 countries across Asia Africa Central and South America

Royal EnfieldRoyal Enfield sold a total of 60142 units (including exports) during April 2017 posting a 25 percent growth The company sold atotal of 48197 units in April 2016 the company said in a BSE filing

Royal Enfield motorcycles with engine capacity of upto 350cc saw an uptick of 30 percent as they dominated the companys saleschart by selling 56349 units in April 2017

Motorcycles above 350cc which include the Royal Enfield Continental GT Royal Enfield Bullet 500 and Royal Enfield Classic 500saw a sales decline by 23 percent as the company managed to sell only 3793 units last month against 4938 units in April 2016

Royal Enfields exports rose by 36 percent as the company exported 1578 units in April 2017 The company also announced directoperations in Brazil last month to strengthen its presence in Latin America

Honda Motorcycle amp Scooter IndiaHonda Motorcycle amp Scooter India (HMSI) has achieved its highest ever sales of 578929 two-wheelers growing 34 percent in asingle month The companyamprsquos domestic market share crossed 30 percent for the first time rising 6 percent to 33 percentExports share rose 5 percent to 305 percent including both domestic and exports

Recently HMSI had declared its target of reaching 6 million units in FYamprsquo2017-18 Yadvinder Singh Guleria senior VP - salesand marketing said ampldquoHonda sold a total of 578929 two-wheelers with a phenomenal 34 percent growth on the back ofcustomer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Honda two-wheeler sales increased 33percent to an all-time high of 551884 units with over 30 percent market share (33) for the first time ever

Within segments automatic scooter sales led the momentum with 40 percent growth to cross 35 lakh mark for first time ever(368618 units) while motorcycle sales recorded a robust 22 percent growth Not only domestic but exports of Honda Two-WheelersIndia also saw a jump of close to 60 percent over April 2016amprdquo

VE Commercial VehiclesVE Commercial Vehicles (a Volvo Group and Eicher Motors joint venture) has sold 3089 units in April 2017 compared to 5365 unitsin April 2016 recording an overall decline of 424 percent This includes 3077 units of the Eicher brand and 12 units of the Volvobrand according to a company statement

Eicher branded trucks and buses have recorded total sales of 3077 units in April 2017 compared to 5326 units in April 2016representing a decline of 4222 percent

In the domestic CV market Eicher branded trucks and buses have recorded sales of 2578 units in April 2017 compared to 4641units in April 2016 representing a decline of 445 percent On the exports front Eicher branded trucks and buses recorded total salesof 499 units in April 2017 compared to 685 units in April 2016 representing a decline of 272 percent

Volvo Trucks has recorded sales of 12 units in April 2017 compared to 39 units in April 2016 representing a decline of 692 percent

Ashok LeylandContinuing with the decline in the commercial vehicle segment CV maker Ashok Leyland has posted a decline of 30 percent withsales of 7083 units in April 2017 against 10182 units in April 2016

Medium and Heavy Commercial Vehicles de-grew by 43 percent from 7873 units in April 2016 to 4525 units in April 2017 In theLCV category sales grew 11 percent with sales of 2558 units in April 2017 against 2309 units in the same month last yearhttpautoeconomictimesindiatimescomnewsindustrycomplete-sales-analysis-for-april-201758478717Car sales zoom over 16 in April Maruti Tata Honda contribute the most(Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniescar-sales-zoom-over-16-in-april-maruti-tata-honda-contribute-the-most-117050100739_1html

Top

Mahindra Auto domestic sales down 4 in April tractor sales rise 21 The Economic Times (Web Edition)

Mumbai Indian utility vehicle manufacturer Mahindra amp Mahindra has witnessed 4 percent in domestic sales in auto sector for themonth of April 2017 and stood at 37829 units informed the company in a Bombay Stock Exchange (BSE) filing

The companys exports declined by 39 percent and stood at 1528 units as against 2506 units during April 2016 Mahindra amp

Mahindra auto sectors cumulative sales for the month registered de-growth of 6 percent at 39357 units

The automaker sold 19325 passenger vehicles during April 2017 when compared with 22655 units in April 2016 thereby seeingyear-on-year decline of 15 percent Its commercial vehicle segment grew by 16 percent at 15066 units

Mahindra three-wheeler sales decreased by 8 percent during April 2017 at 3438 units

Rajan Wadhera President Automotive Sector Mahindra amp Mahindra said We are hopeful that the new financial year will bring inpositive sentiments for the automotive industry with the key demand drivers in place

Factors such as he ongoing infrastructure development initiatives outlook for a normal monsoon and the expectation of a stablepolicy environment will fuel growth in the coming days Going forward we are looking for a good growth momentum with ourplanned refreshes during FY18

Mahindra Tractor Sales PerformanceThe farm equipment sector of Mahindra amp Mahindra has sold 25081 tractors for the month of April 2017 in domestic marketthereby posting growth of 21 percent

Mahindra Tractors have exported 920 units when compared with 682 units during April 2016 registering growth of 35 percent Itscumulative sales for the month stood at 26001 with year-on-year growth of 22 percent

Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra said We expect that the prediction of a normalmonsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvmahindra-auto-domestic-sales-down-4-in-april58472374Mahindra reports decline in car sale units in AprilAsian Age (Web Edition)httpwwwasianagecombusinesscompanies020517mahindra-reports-decline-in-car-sale-units-in-aprilhtmlMahindra sales decline 6 to 39357 units in Aprilmint (Web Edition)httpwwwlivemintcomCompaniesUTUCweictRah9M2V8G7D2MMahindra-sales-decline-6-to-39357-units-in-AprilhtmlMampM sales decline 6 to 39357 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniesm-m-sales-decline-6-to-39-357-units-in-april-117050200367_1html

Top

TUV SUD to conduct audits for auto Inc to comply with global standards The Economic Times (Web Edition)

New Delhi German safety and quality automotive solution provider TUumlV SUumlD will conduct transition and initial audits for automotivemanufacturers for compliance with IATF 16949 a new global industry standard

The solutions provider said in a statement IATF 16949 plays an essential role in ensuring quality requirements are met therebyreducing the risk of product and service failure for automotive production service andor accessory parts organisations Certificationto IATF 16949 is mandatory for organisations who wish to manufacture parts for the automotive industry

As an IATF-recognised certification body TUumlV SUumlD will conduct transition for organisations currently certified to ISOTS 16949 andinitial audits for organisations requiring automotive certification

For manufacturers partnering with TUumlV SUumlD for the first time pre-assessments might be undertaken to analyse organisationalreadiness for certification against IATF 16949 on request of the organisations As part of IATF 16949 services TUumlV SUumlD willenable automotive manufactures to gain a competitive edgehttpautoeconomictimesindiatimescomnewsindustrytuv-sud-to-conduct-audits-for-auto-inc-to-comply-with-global-standards58481533

Top

Electric vehicles market faces financing infrastructure challenges report Utpal Bhaskarmint

New Delhi The Indian electric vehicles (EV) market poses formidable challenges for policymakers according to consulting firmBridge to India

This comes in the backdrop of the National Democratic Alliance (NDA) governmentamprsquos ambitious plan for an all-EV fleet by2030 even as the sales numbers have not been picking up to help reach the Centreamprsquos target of 6 million EV sales by 2020

ampldquoGrowth in electric vehicles can facilitate greatly in energy transition but the market poses formidable infrastructure andfinancing challenges for Indian policy makersamprdquo Bridge to India wrote in a 1 May note

EV sales in India grew by 375 to 22000 units in the year ended 31 March 2016 according to industry lobby group Society ofManufacturers of Electric Vehicles Of these only 2000 units were four-wheelers

The Bridge to India note also compared the EV markets of India and China

ampldquoIndia has made little progress in electric mobility since the announcement of the National Electric Mobility Mission Plan in2013 aiming for over 6 million electrichybrid vehicles by 2020amprdquo the note said adding ampldquoIn comparison China is aworld leader in electric vehicles with over 50 global annual market share Local manufacturers such as BYD and BAIC are worldleaders in this market The country is considering ramping up progress even further and wants 8 of all vehicles to be electricallypowered by next yearamprdquo

The Indian government has been trying to push sales of EVs The Centre is exploring measures ranging from leasing of EVs totransferring technology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centrefor use in automobiles It is also exploring a strategy that involves reducing the battery size to bring down EV prices

ampldquoElectric vehicles market is growing rapidly worldwide fuelled by stricter environmental measures technology improvementsand cost reduction in energy storage It is also seen as a vital link in achieving energy transition That explains the lead taken by thepower minister Piyush Goyal on the electric mobility initiative despite automobiles falling under the ambit of the Ministry of HeavyIndustriesamprdquo the note added

Goyal has stated that the growth of solar power and EVs in India are inextricably linked given that EVs have batteries that can offera storage solution to the countryamprsquos clean energy push As solar power generated during the day needs to be stored inbatteries the storage capability of EV batteries could help with grid balancing

India plans to achieve 175 GW of renewable energy capacity by 2022 Of this 100GW is set to come from solar projects

ampldquoGrowth in sales of electric vehicles will lead to more demand for (renewable) power help in creating a flexible demandsource to tackle intermittency issues of renewable power and reduce reliance on (mostly imported) oilamprdquo the note said

Shifting to EVs will also check pollution and fuel imports India the biggest emitter of greenhouse gases after the US and Chinaplans to reduce its carbon footprint by 33-35 from its 2005 levels by 2030 as part of its commitments to the United NationsFramework Convention on Climate Change adopted by 195 countries in Paris in 2015

ampldquoThe ambitions now need to be backed with actions But while India has a large domestic market it lacks the fiscal capabilityand ambition of China and the technology expertise of Japan or South Koreaamprdquo the note cautionedhttpwwwlivemintcomIndustryOaHPVDl3rJTeJAvaYF5EfLElectric-vehicles-market-faces-financing-infrastructure-chahtml

Top

Policy push to boost electric vehicle sales Ananth Padmanabhan amp Shashank Reddymint

Ashlee Vance in his recent biography Elon Musk Tesla SpaceX And The Quest For A Fantastic Future writes that Teslaamprsquosoriginal founders encountered few venture capitalist funds willing to advance relatively modest investments their way in 2003 ButTesla grew to dethrone General Motors a few weeks ago as Americaamprsquos most valued automobile company The resistance inits formative years and Teslaamprsquos astounding success thereafter share a common cause its exclusive focus on electric cars

Market sentiment has changed over the last 14 years because of several advantages offered by electric vehicles (EVs) EVs aremuch more eco-friendly than internal combustion engines They significantly reduce the oil import bill of nations bolstering energysecurity They can also be much cheaper than conventional vehicles in the long run due to fewer moving parts lower maintenancecosts and reduced fuel expenses

However in FY16 only 22000 EVs were sold in India of which approximately 2000 were cars and the rest two-wheelers InNorway EVs accounted for 23 of all new car sales in 2015 The figure for the same year stood at 9 in the Netherlands China isnow the largest market for electric buses with over 173000 of them on its roads In 2015 China also became the top electricpassenger car market globally Perceived from this lens the Indian market for EVs has seen minimal uptake

But hope is on the horizon with the Central governmentamprsquos renewed commitment to EVs especially for public transportationThis is critical considering how India lost out in the early phase of EV adoption 2013-14 was particularly bad as electrictwo-wheeler sales crashed to a mere 21000 units from 100000 two years prior Nearly half the total number of e-bike distributorsclosed shop during that period Though the National Electric Mobility Mission Plan (Nemmp) 2020 generated positive buzz whenlaunched in January 2013 subsidies and incentives promised by the plan were difficult to come by Several new players in thissector wound up leading to a loss of innovative capabilities and solutions

On the contrary the Faster Adoption and Manufacturing of (Hybrid amp) Electric Vehicles in India (FAME) scheme launched in 2015seeks to tackle the pain points largely unaddressed by Nemmp in its first phase To overcome the scattered presence of chargingstations and the additional barrier of still-expensive batteries the Narendra Modi government is contemplating a policy push for thesale of EVs without batteries supplemented with battery leasing operations and battery swap stations This is an important stepconsidering most projections (except Teslaamprsquos own aggressive 2020 deadline) place somewhere between 2025-30 as theperiod when battery pack prices will fall below the current gold standard of $100 per kWh India cannot afford to wait that long

The xEV One consortium a collaborative effort between the government of India and car manufacturers to develop a supplier basefor critical hybrid and EV components started off on a wrong footing with Maruti Suzuki and Ford India backing out But thegovernment appears committed to the driving philosophy behind the consortiumampmdashpublic-private collaboration A recentpartnership with Ola Cabs pursuant to Masayoshi Son of SoftBank (Olaamprsquos investor) committing to a million EVs that aims tointroduce a fleet of 300 electric cars in Nagpur is a case in point

More policy innovations both from the Centre and the states are required to ensure the success of these green initiatives Thesesteps can be structured around three key themes The first and perhaps the most obvious is the targeting of direct sops andincentives for EV and component manufacturers as well as consumers From the supply side such interventions includespeed-tracking of environmental and labour clearances tax rebates and exemptions Demand-side interventions include directconsumer subsidies waiver of road tax and registration fees GST (goods and services tax) refunds and free parking spaces

The second step must be a renewed commitment on the part of governments to provide and promote greater public infrastructurefor EVs including public charging stations dedicated electric supply lines for such stations and battery swap stations Doing so willinfuse much-needed trust and confidence in this mobility solution As seen from the earlier failure of Nemmp financial incentives donot work by themselves

Third and equally important is a big boost for RampD (research and development) innovation in this space In February 2016 aTechnology Platform for Electric Mobility was initiated jointly by the departments of heavy industries and science and technologyFive projects have been accurately identified therein for ampldquodemand driven RampD to achieve desirable targetspecsamprdquoampmdashlithium battery charging infrastructure driving cycle and traffic pattern motors and drives and lightweightingof EVs These are clearly the most critical areas for research and directing funding will be instrumental in meeting the Nemmptarget of six million EVshybrids by 2020 In addition a robust system of incentives for private entities spearheading EV innovationincluding tax credits for setting up research labs is crucial

EVs offer advantages that are particularly suited to Indiaamprsquos economic and environmental conditions India must move quicklyin this space both in terms of EV adoption and innovation to transition to a cleaner greener and more efficient age of mobilityhttpwwwlivemintcomOpinion24QvIByNFcKdpn1Rg1vhYKPolicy-push-to-boost-electric-vehicle-saleshtml

Top

Interviews amp Features

Cars SUVs MUVs

Petrol variant of Renault Duster with CVT gearbox launched at Rs 1032 lakh (Ex-Delhi) The Economic Times (Web Edition)

New Delhi Renault India in a press release announced the launch of Renault Duster petrol range with CVT (Continuously VariableTiming) transmission starting at Rs 1032 lakh (Ex-Delhi) The petrol variants of the Duster SUV is equipped with the 15L H4Kpetrol powertrain and is available in two trims RXE and RXL The CVT transmission is only available on the RXL variant

The petrol powertrain in the manual transmission (MT) is now offered at an introductory starting price of INR 849 Lakh (ex-Delhi)

Renault Duster CVT comes with easy selection drive modes ampndash P (Park) R (Reverse) N (Neutral) D (Drive) and a 6 speedmanual mode option

Commenting on the launch of the new Duster petrol range and the Duster CVT Sumit Sawhney Country CEO and ManagingDirector Renault India Operations said ampldquoWe have a clear goal of growing the Renault brand in India Towards this we arestrategically strengthening our product range expanding our network reach and initiating pioneering measures to ensure customerdelight

Duster plays a pivotal role in our product portfolio and with the introduction of the new petrol range with CVT Renault has thewidest offering in the segment enabling us to best cater to evolving customer needs We are confident that the new Duster petrolrange with the CVT will resonate well with discerning Indian customers in the fastest growing vehicle segment in Indiaamprdquo

The CVT is currently offered with 2WD and a 6-speed manual mode is also offered in the vehicle The Renault Duster CVT petrolgets a 15-litre four-cylinder engine unit that produces 106 PS amp 142 Nm of torque Renault India claims a mileage of 1499 kmpl onits petrol Duster with CVT gear box and 1419 kmpl on the manual gearbox

The company has sold over 16 lakh units of Duster SUV in India since its launch It is one of the best-selling SUVamprsquos for thecompany world-wide being marketed in over 100 countries and manufactured in 5 countries

Bookings for the New Duster petrol range in both MT and CVT versions have commenced across dealershipshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvpetrol-variant-of-renault-duster-with-cvt-gearbox-launched-at-rs-10-32-lakh-ex-delhi58477826Renault drives in Duster petrol with CVT at Rs 1032 lakhThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesrenault-drives-in-duster-petrol-with-cvt-at-rs-10-32-lakharticleshow58479398cms Renault drives in Duster petrol with CVT at Rs 1032 lakhDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-renault-drives-in-duster-petrol-with-cvt-at-rs-1032-lakh-2425171Renault Duster Petrol CVT automatic transmission variant launched at Rs 1032 lakhThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsrenault-duster-petrol-cvt-automatic-transmission-variant-launched-at-rs-10-32-lakh651110

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Maruti Suzuki hits new record high Sensex reclaims 30000-level Rahul OberoiThe Economic Times (Web Edition)

New Delhi Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after thecountryamprsquos largest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569units sold in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

The carmaker reported a 158 per cent rise in net profit at Rs 1709 crore for the fourth quarter of last financial year ended March31 2017 It had posted a net profit of Rs 14762 crore for the same period in the previous financial year

Net sales during the fourth quarter of 2016-17 rose to Rs 180052 crore up 203 per cent against the year-ago period

Brokerage house HDFC Securities is bullish on Maruti Suzuki ampldquoWith 20 per cent EPS CAGR over FY17-19E and structuralimprovement in RoE (at around 25 per cent by FY19E vs 10 year average of around 17 per cent) we maintain aamplsquoBuyamprsquo on Maruti with a target price of Rs 7070

According to Edelweiss Securities long waiting periods for key products a structured launch programme superior franchise andsolid financials (9 per cent free cash flow to sales RoE of around 225 per cent in FY19E) will enable Maruti Suzuki sustain marketshare gains ampldquoWe maintain amplsquoBuyamprsquo on Maruti with a target price of Rs 6928amprdquo Edelweiss said

Sensex reclaims 30000-levelBSE benchmark Sensex recouped over 134 points to trade above the 30000-mark in early trade on Tuesday on the back ofwidespread gains triggered by encouraging corporate earnings

The 30-share index rose by 13433 points or 044 per cent to 3005273 The gauge had lost 21495 points in the previous twosessions

All the sectoral indices led by consumer durables PSU metal auto bank and IT were trading in the positive zone rising by up to096 per cent

The Nifty also advanced 3775 points or 040 per cent to 934185

Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong autosales data in April month amid a mixed trend at other Asian bourses

Prominent gainers were Maruti Suzuki Hero MotoCorp ONGC Bajaj Auto HDFC Ltd Asian Paint TCS Tata Steel SBI AxisBank Adani Ports ITC Ltd ICICI Bank Infosys and Wipro

Among Asian markets Japans Nikkei was up 070 per cent while Hong Kongs Hang Seng gained 027 per cent in early tradetoday Shanghai Composite Index however fell 032 per cent

The US Dow Jones Industrial Average ended 013 per cent lower in yesterdays tradehttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-hits-new-record-high-sensex-reclaims-30000-level58470869Maruti shares up nearly 3 mcap surges by Rs 5442 crThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266eceMaruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh croreBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Maruti Suzuki drives into select club Ashutosh R ShyamThe Economic Times (Web amp Print Edition)

Maruti Suzuki has pipped global car majors Audi Hyundai Subaru and Renault to enter the club of top ten auto makers by marketcapitalisation reports Ashutosh R Shyam The high double-digit volume growth last month catapulted Marutis m-cap to Rs 2 lakhcrore ($3155 billion) on Tuesday a first for an Indian auto company

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

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Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

Top

2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 5: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Hero MotoCorpIndias largest two-wheeler manufacturer Hero MotoCorp in a BSE filing reported its wholesale sales of 591306 units in April 2017declining by 349 percent The company sold a total of 612739 units in April 2016

Hero MotoCorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to rise incommodity prices from May 1 2017

The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in view of transition from BS- III to BS-IVvehicles With the ongoing marriage season the company expects to maintain the trend of robust sales in May said the companystatement

Hero MotoCorp has now spread its wings globally with presence in 35 countries across Asia Africa Central and South America

Royal EnfieldRoyal Enfield sold a total of 60142 units (including exports) during April 2017 posting a 25 percent growth The company sold atotal of 48197 units in April 2016 the company said in a BSE filing

Royal Enfield motorcycles with engine capacity of upto 350cc saw an uptick of 30 percent as they dominated the companys saleschart by selling 56349 units in April 2017

Motorcycles above 350cc which include the Royal Enfield Continental GT Royal Enfield Bullet 500 and Royal Enfield Classic 500saw a sales decline by 23 percent as the company managed to sell only 3793 units last month against 4938 units in April 2016

Royal Enfields exports rose by 36 percent as the company exported 1578 units in April 2017 The company also announced directoperations in Brazil last month to strengthen its presence in Latin America

Honda Motorcycle amp Scooter IndiaHonda Motorcycle amp Scooter India (HMSI) has achieved its highest ever sales of 578929 two-wheelers growing 34 percent in asingle month The companyamprsquos domestic market share crossed 30 percent for the first time rising 6 percent to 33 percentExports share rose 5 percent to 305 percent including both domestic and exports

Recently HMSI had declared its target of reaching 6 million units in FYamprsquo2017-18 Yadvinder Singh Guleria senior VP - salesand marketing said ampldquoHonda sold a total of 578929 two-wheelers with a phenomenal 34 percent growth on the back ofcustomer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Honda two-wheeler sales increased 33percent to an all-time high of 551884 units with over 30 percent market share (33) for the first time ever

Within segments automatic scooter sales led the momentum with 40 percent growth to cross 35 lakh mark for first time ever(368618 units) while motorcycle sales recorded a robust 22 percent growth Not only domestic but exports of Honda Two-WheelersIndia also saw a jump of close to 60 percent over April 2016amprdquo

VE Commercial VehiclesVE Commercial Vehicles (a Volvo Group and Eicher Motors joint venture) has sold 3089 units in April 2017 compared to 5365 unitsin April 2016 recording an overall decline of 424 percent This includes 3077 units of the Eicher brand and 12 units of the Volvobrand according to a company statement

Eicher branded trucks and buses have recorded total sales of 3077 units in April 2017 compared to 5326 units in April 2016representing a decline of 4222 percent

In the domestic CV market Eicher branded trucks and buses have recorded sales of 2578 units in April 2017 compared to 4641units in April 2016 representing a decline of 445 percent On the exports front Eicher branded trucks and buses recorded total salesof 499 units in April 2017 compared to 685 units in April 2016 representing a decline of 272 percent

Volvo Trucks has recorded sales of 12 units in April 2017 compared to 39 units in April 2016 representing a decline of 692 percent

Ashok LeylandContinuing with the decline in the commercial vehicle segment CV maker Ashok Leyland has posted a decline of 30 percent withsales of 7083 units in April 2017 against 10182 units in April 2016

Medium and Heavy Commercial Vehicles de-grew by 43 percent from 7873 units in April 2016 to 4525 units in April 2017 In theLCV category sales grew 11 percent with sales of 2558 units in April 2017 against 2309 units in the same month last yearhttpautoeconomictimesindiatimescomnewsindustrycomplete-sales-analysis-for-april-201758478717Car sales zoom over 16 in April Maruti Tata Honda contribute the most(Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniescar-sales-zoom-over-16-in-april-maruti-tata-honda-contribute-the-most-117050100739_1html

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Mahindra Auto domestic sales down 4 in April tractor sales rise 21 The Economic Times (Web Edition)

Mumbai Indian utility vehicle manufacturer Mahindra amp Mahindra has witnessed 4 percent in domestic sales in auto sector for themonth of April 2017 and stood at 37829 units informed the company in a Bombay Stock Exchange (BSE) filing

The companys exports declined by 39 percent and stood at 1528 units as against 2506 units during April 2016 Mahindra amp

Mahindra auto sectors cumulative sales for the month registered de-growth of 6 percent at 39357 units

The automaker sold 19325 passenger vehicles during April 2017 when compared with 22655 units in April 2016 thereby seeingyear-on-year decline of 15 percent Its commercial vehicle segment grew by 16 percent at 15066 units

Mahindra three-wheeler sales decreased by 8 percent during April 2017 at 3438 units

Rajan Wadhera President Automotive Sector Mahindra amp Mahindra said We are hopeful that the new financial year will bring inpositive sentiments for the automotive industry with the key demand drivers in place

Factors such as he ongoing infrastructure development initiatives outlook for a normal monsoon and the expectation of a stablepolicy environment will fuel growth in the coming days Going forward we are looking for a good growth momentum with ourplanned refreshes during FY18

Mahindra Tractor Sales PerformanceThe farm equipment sector of Mahindra amp Mahindra has sold 25081 tractors for the month of April 2017 in domestic marketthereby posting growth of 21 percent

Mahindra Tractors have exported 920 units when compared with 682 units during April 2016 registering growth of 35 percent Itscumulative sales for the month stood at 26001 with year-on-year growth of 22 percent

Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra said We expect that the prediction of a normalmonsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvmahindra-auto-domestic-sales-down-4-in-april58472374Mahindra reports decline in car sale units in AprilAsian Age (Web Edition)httpwwwasianagecombusinesscompanies020517mahindra-reports-decline-in-car-sale-units-in-aprilhtmlMahindra sales decline 6 to 39357 units in Aprilmint (Web Edition)httpwwwlivemintcomCompaniesUTUCweictRah9M2V8G7D2MMahindra-sales-decline-6-to-39357-units-in-AprilhtmlMampM sales decline 6 to 39357 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniesm-m-sales-decline-6-to-39-357-units-in-april-117050200367_1html

Top

TUV SUD to conduct audits for auto Inc to comply with global standards The Economic Times (Web Edition)

New Delhi German safety and quality automotive solution provider TUumlV SUumlD will conduct transition and initial audits for automotivemanufacturers for compliance with IATF 16949 a new global industry standard

The solutions provider said in a statement IATF 16949 plays an essential role in ensuring quality requirements are met therebyreducing the risk of product and service failure for automotive production service andor accessory parts organisations Certificationto IATF 16949 is mandatory for organisations who wish to manufacture parts for the automotive industry

As an IATF-recognised certification body TUumlV SUumlD will conduct transition for organisations currently certified to ISOTS 16949 andinitial audits for organisations requiring automotive certification

For manufacturers partnering with TUumlV SUumlD for the first time pre-assessments might be undertaken to analyse organisationalreadiness for certification against IATF 16949 on request of the organisations As part of IATF 16949 services TUumlV SUumlD willenable automotive manufactures to gain a competitive edgehttpautoeconomictimesindiatimescomnewsindustrytuv-sud-to-conduct-audits-for-auto-inc-to-comply-with-global-standards58481533

Top

Electric vehicles market faces financing infrastructure challenges report Utpal Bhaskarmint

New Delhi The Indian electric vehicles (EV) market poses formidable challenges for policymakers according to consulting firmBridge to India

This comes in the backdrop of the National Democratic Alliance (NDA) governmentamprsquos ambitious plan for an all-EV fleet by2030 even as the sales numbers have not been picking up to help reach the Centreamprsquos target of 6 million EV sales by 2020

ampldquoGrowth in electric vehicles can facilitate greatly in energy transition but the market poses formidable infrastructure andfinancing challenges for Indian policy makersamprdquo Bridge to India wrote in a 1 May note

EV sales in India grew by 375 to 22000 units in the year ended 31 March 2016 according to industry lobby group Society ofManufacturers of Electric Vehicles Of these only 2000 units were four-wheelers

The Bridge to India note also compared the EV markets of India and China

ampldquoIndia has made little progress in electric mobility since the announcement of the National Electric Mobility Mission Plan in2013 aiming for over 6 million electrichybrid vehicles by 2020amprdquo the note said adding ampldquoIn comparison China is aworld leader in electric vehicles with over 50 global annual market share Local manufacturers such as BYD and BAIC are worldleaders in this market The country is considering ramping up progress even further and wants 8 of all vehicles to be electricallypowered by next yearamprdquo

The Indian government has been trying to push sales of EVs The Centre is exploring measures ranging from leasing of EVs totransferring technology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centrefor use in automobiles It is also exploring a strategy that involves reducing the battery size to bring down EV prices

ampldquoElectric vehicles market is growing rapidly worldwide fuelled by stricter environmental measures technology improvementsand cost reduction in energy storage It is also seen as a vital link in achieving energy transition That explains the lead taken by thepower minister Piyush Goyal on the electric mobility initiative despite automobiles falling under the ambit of the Ministry of HeavyIndustriesamprdquo the note added

Goyal has stated that the growth of solar power and EVs in India are inextricably linked given that EVs have batteries that can offera storage solution to the countryamprsquos clean energy push As solar power generated during the day needs to be stored inbatteries the storage capability of EV batteries could help with grid balancing

India plans to achieve 175 GW of renewable energy capacity by 2022 Of this 100GW is set to come from solar projects

ampldquoGrowth in sales of electric vehicles will lead to more demand for (renewable) power help in creating a flexible demandsource to tackle intermittency issues of renewable power and reduce reliance on (mostly imported) oilamprdquo the note said

Shifting to EVs will also check pollution and fuel imports India the biggest emitter of greenhouse gases after the US and Chinaplans to reduce its carbon footprint by 33-35 from its 2005 levels by 2030 as part of its commitments to the United NationsFramework Convention on Climate Change adopted by 195 countries in Paris in 2015

ampldquoThe ambitions now need to be backed with actions But while India has a large domestic market it lacks the fiscal capabilityand ambition of China and the technology expertise of Japan or South Koreaamprdquo the note cautionedhttpwwwlivemintcomIndustryOaHPVDl3rJTeJAvaYF5EfLElectric-vehicles-market-faces-financing-infrastructure-chahtml

Top

Policy push to boost electric vehicle sales Ananth Padmanabhan amp Shashank Reddymint

Ashlee Vance in his recent biography Elon Musk Tesla SpaceX And The Quest For A Fantastic Future writes that Teslaamprsquosoriginal founders encountered few venture capitalist funds willing to advance relatively modest investments their way in 2003 ButTesla grew to dethrone General Motors a few weeks ago as Americaamprsquos most valued automobile company The resistance inits formative years and Teslaamprsquos astounding success thereafter share a common cause its exclusive focus on electric cars

Market sentiment has changed over the last 14 years because of several advantages offered by electric vehicles (EVs) EVs aremuch more eco-friendly than internal combustion engines They significantly reduce the oil import bill of nations bolstering energysecurity They can also be much cheaper than conventional vehicles in the long run due to fewer moving parts lower maintenancecosts and reduced fuel expenses

However in FY16 only 22000 EVs were sold in India of which approximately 2000 were cars and the rest two-wheelers InNorway EVs accounted for 23 of all new car sales in 2015 The figure for the same year stood at 9 in the Netherlands China isnow the largest market for electric buses with over 173000 of them on its roads In 2015 China also became the top electricpassenger car market globally Perceived from this lens the Indian market for EVs has seen minimal uptake

But hope is on the horizon with the Central governmentamprsquos renewed commitment to EVs especially for public transportationThis is critical considering how India lost out in the early phase of EV adoption 2013-14 was particularly bad as electrictwo-wheeler sales crashed to a mere 21000 units from 100000 two years prior Nearly half the total number of e-bike distributorsclosed shop during that period Though the National Electric Mobility Mission Plan (Nemmp) 2020 generated positive buzz whenlaunched in January 2013 subsidies and incentives promised by the plan were difficult to come by Several new players in thissector wound up leading to a loss of innovative capabilities and solutions

On the contrary the Faster Adoption and Manufacturing of (Hybrid amp) Electric Vehicles in India (FAME) scheme launched in 2015seeks to tackle the pain points largely unaddressed by Nemmp in its first phase To overcome the scattered presence of chargingstations and the additional barrier of still-expensive batteries the Narendra Modi government is contemplating a policy push for thesale of EVs without batteries supplemented with battery leasing operations and battery swap stations This is an important stepconsidering most projections (except Teslaamprsquos own aggressive 2020 deadline) place somewhere between 2025-30 as theperiod when battery pack prices will fall below the current gold standard of $100 per kWh India cannot afford to wait that long

The xEV One consortium a collaborative effort between the government of India and car manufacturers to develop a supplier basefor critical hybrid and EV components started off on a wrong footing with Maruti Suzuki and Ford India backing out But thegovernment appears committed to the driving philosophy behind the consortiumampmdashpublic-private collaboration A recentpartnership with Ola Cabs pursuant to Masayoshi Son of SoftBank (Olaamprsquos investor) committing to a million EVs that aims tointroduce a fleet of 300 electric cars in Nagpur is a case in point

More policy innovations both from the Centre and the states are required to ensure the success of these green initiatives Thesesteps can be structured around three key themes The first and perhaps the most obvious is the targeting of direct sops andincentives for EV and component manufacturers as well as consumers From the supply side such interventions includespeed-tracking of environmental and labour clearances tax rebates and exemptions Demand-side interventions include directconsumer subsidies waiver of road tax and registration fees GST (goods and services tax) refunds and free parking spaces

The second step must be a renewed commitment on the part of governments to provide and promote greater public infrastructurefor EVs including public charging stations dedicated electric supply lines for such stations and battery swap stations Doing so willinfuse much-needed trust and confidence in this mobility solution As seen from the earlier failure of Nemmp financial incentives donot work by themselves

Third and equally important is a big boost for RampD (research and development) innovation in this space In February 2016 aTechnology Platform for Electric Mobility was initiated jointly by the departments of heavy industries and science and technologyFive projects have been accurately identified therein for ampldquodemand driven RampD to achieve desirable targetspecsamprdquoampmdashlithium battery charging infrastructure driving cycle and traffic pattern motors and drives and lightweightingof EVs These are clearly the most critical areas for research and directing funding will be instrumental in meeting the Nemmptarget of six million EVshybrids by 2020 In addition a robust system of incentives for private entities spearheading EV innovationincluding tax credits for setting up research labs is crucial

EVs offer advantages that are particularly suited to Indiaamprsquos economic and environmental conditions India must move quicklyin this space both in terms of EV adoption and innovation to transition to a cleaner greener and more efficient age of mobilityhttpwwwlivemintcomOpinion24QvIByNFcKdpn1Rg1vhYKPolicy-push-to-boost-electric-vehicle-saleshtml

Top

Interviews amp Features

Cars SUVs MUVs

Petrol variant of Renault Duster with CVT gearbox launched at Rs 1032 lakh (Ex-Delhi) The Economic Times (Web Edition)

New Delhi Renault India in a press release announced the launch of Renault Duster petrol range with CVT (Continuously VariableTiming) transmission starting at Rs 1032 lakh (Ex-Delhi) The petrol variants of the Duster SUV is equipped with the 15L H4Kpetrol powertrain and is available in two trims RXE and RXL The CVT transmission is only available on the RXL variant

The petrol powertrain in the manual transmission (MT) is now offered at an introductory starting price of INR 849 Lakh (ex-Delhi)

Renault Duster CVT comes with easy selection drive modes ampndash P (Park) R (Reverse) N (Neutral) D (Drive) and a 6 speedmanual mode option

Commenting on the launch of the new Duster petrol range and the Duster CVT Sumit Sawhney Country CEO and ManagingDirector Renault India Operations said ampldquoWe have a clear goal of growing the Renault brand in India Towards this we arestrategically strengthening our product range expanding our network reach and initiating pioneering measures to ensure customerdelight

Duster plays a pivotal role in our product portfolio and with the introduction of the new petrol range with CVT Renault has thewidest offering in the segment enabling us to best cater to evolving customer needs We are confident that the new Duster petrolrange with the CVT will resonate well with discerning Indian customers in the fastest growing vehicle segment in Indiaamprdquo

The CVT is currently offered with 2WD and a 6-speed manual mode is also offered in the vehicle The Renault Duster CVT petrolgets a 15-litre four-cylinder engine unit that produces 106 PS amp 142 Nm of torque Renault India claims a mileage of 1499 kmpl onits petrol Duster with CVT gear box and 1419 kmpl on the manual gearbox

The company has sold over 16 lakh units of Duster SUV in India since its launch It is one of the best-selling SUVamprsquos for thecompany world-wide being marketed in over 100 countries and manufactured in 5 countries

Bookings for the New Duster petrol range in both MT and CVT versions have commenced across dealershipshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvpetrol-variant-of-renault-duster-with-cvt-gearbox-launched-at-rs-10-32-lakh-ex-delhi58477826Renault drives in Duster petrol with CVT at Rs 1032 lakhThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesrenault-drives-in-duster-petrol-with-cvt-at-rs-10-32-lakharticleshow58479398cms Renault drives in Duster petrol with CVT at Rs 1032 lakhDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-renault-drives-in-duster-petrol-with-cvt-at-rs-1032-lakh-2425171Renault Duster Petrol CVT automatic transmission variant launched at Rs 1032 lakhThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsrenault-duster-petrol-cvt-automatic-transmission-variant-launched-at-rs-10-32-lakh651110

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Maruti Suzuki hits new record high Sensex reclaims 30000-level Rahul OberoiThe Economic Times (Web Edition)

New Delhi Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after thecountryamprsquos largest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569units sold in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

The carmaker reported a 158 per cent rise in net profit at Rs 1709 crore for the fourth quarter of last financial year ended March31 2017 It had posted a net profit of Rs 14762 crore for the same period in the previous financial year

Net sales during the fourth quarter of 2016-17 rose to Rs 180052 crore up 203 per cent against the year-ago period

Brokerage house HDFC Securities is bullish on Maruti Suzuki ampldquoWith 20 per cent EPS CAGR over FY17-19E and structuralimprovement in RoE (at around 25 per cent by FY19E vs 10 year average of around 17 per cent) we maintain aamplsquoBuyamprsquo on Maruti with a target price of Rs 7070

According to Edelweiss Securities long waiting periods for key products a structured launch programme superior franchise andsolid financials (9 per cent free cash flow to sales RoE of around 225 per cent in FY19E) will enable Maruti Suzuki sustain marketshare gains ampldquoWe maintain amplsquoBuyamprsquo on Maruti with a target price of Rs 6928amprdquo Edelweiss said

Sensex reclaims 30000-levelBSE benchmark Sensex recouped over 134 points to trade above the 30000-mark in early trade on Tuesday on the back ofwidespread gains triggered by encouraging corporate earnings

The 30-share index rose by 13433 points or 044 per cent to 3005273 The gauge had lost 21495 points in the previous twosessions

All the sectoral indices led by consumer durables PSU metal auto bank and IT were trading in the positive zone rising by up to096 per cent

The Nifty also advanced 3775 points or 040 per cent to 934185

Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong autosales data in April month amid a mixed trend at other Asian bourses

Prominent gainers were Maruti Suzuki Hero MotoCorp ONGC Bajaj Auto HDFC Ltd Asian Paint TCS Tata Steel SBI AxisBank Adani Ports ITC Ltd ICICI Bank Infosys and Wipro

Among Asian markets Japans Nikkei was up 070 per cent while Hong Kongs Hang Seng gained 027 per cent in early tradetoday Shanghai Composite Index however fell 032 per cent

The US Dow Jones Industrial Average ended 013 per cent lower in yesterdays tradehttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-hits-new-record-high-sensex-reclaims-30000-level58470869Maruti shares up nearly 3 mcap surges by Rs 5442 crThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266eceMaruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh croreBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Maruti Suzuki drives into select club Ashutosh R ShyamThe Economic Times (Web amp Print Edition)

Maruti Suzuki has pipped global car majors Audi Hyundai Subaru and Renault to enter the club of top ten auto makers by marketcapitalisation reports Ashutosh R Shyam The high double-digit volume growth last month catapulted Marutis m-cap to Rs 2 lakhcrore ($3155 billion) on Tuesday a first for an Indian auto company

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

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Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 6: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Mahindra auto sectors cumulative sales for the month registered de-growth of 6 percent at 39357 units

The automaker sold 19325 passenger vehicles during April 2017 when compared with 22655 units in April 2016 thereby seeingyear-on-year decline of 15 percent Its commercial vehicle segment grew by 16 percent at 15066 units

Mahindra three-wheeler sales decreased by 8 percent during April 2017 at 3438 units

Rajan Wadhera President Automotive Sector Mahindra amp Mahindra said We are hopeful that the new financial year will bring inpositive sentiments for the automotive industry with the key demand drivers in place

Factors such as he ongoing infrastructure development initiatives outlook for a normal monsoon and the expectation of a stablepolicy environment will fuel growth in the coming days Going forward we are looking for a good growth momentum with ourplanned refreshes during FY18

Mahindra Tractor Sales PerformanceThe farm equipment sector of Mahindra amp Mahindra has sold 25081 tractors for the month of April 2017 in domestic marketthereby posting growth of 21 percent

Mahindra Tractors have exported 920 units when compared with 682 units during April 2016 registering growth of 35 percent Itscumulative sales for the month stood at 26001 with year-on-year growth of 22 percent

Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra said We expect that the prediction of a normalmonsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvmahindra-auto-domestic-sales-down-4-in-april58472374Mahindra reports decline in car sale units in AprilAsian Age (Web Edition)httpwwwasianagecombusinesscompanies020517mahindra-reports-decline-in-car-sale-units-in-aprilhtmlMahindra sales decline 6 to 39357 units in Aprilmint (Web Edition)httpwwwlivemintcomCompaniesUTUCweictRah9M2V8G7D2MMahindra-sales-decline-6-to-39357-units-in-AprilhtmlMampM sales decline 6 to 39357 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniesm-m-sales-decline-6-to-39-357-units-in-april-117050200367_1html

Top

TUV SUD to conduct audits for auto Inc to comply with global standards The Economic Times (Web Edition)

New Delhi German safety and quality automotive solution provider TUumlV SUumlD will conduct transition and initial audits for automotivemanufacturers for compliance with IATF 16949 a new global industry standard

The solutions provider said in a statement IATF 16949 plays an essential role in ensuring quality requirements are met therebyreducing the risk of product and service failure for automotive production service andor accessory parts organisations Certificationto IATF 16949 is mandatory for organisations who wish to manufacture parts for the automotive industry

As an IATF-recognised certification body TUumlV SUumlD will conduct transition for organisations currently certified to ISOTS 16949 andinitial audits for organisations requiring automotive certification

For manufacturers partnering with TUumlV SUumlD for the first time pre-assessments might be undertaken to analyse organisationalreadiness for certification against IATF 16949 on request of the organisations As part of IATF 16949 services TUumlV SUumlD willenable automotive manufactures to gain a competitive edgehttpautoeconomictimesindiatimescomnewsindustrytuv-sud-to-conduct-audits-for-auto-inc-to-comply-with-global-standards58481533

Top

Electric vehicles market faces financing infrastructure challenges report Utpal Bhaskarmint

New Delhi The Indian electric vehicles (EV) market poses formidable challenges for policymakers according to consulting firmBridge to India

This comes in the backdrop of the National Democratic Alliance (NDA) governmentamprsquos ambitious plan for an all-EV fleet by2030 even as the sales numbers have not been picking up to help reach the Centreamprsquos target of 6 million EV sales by 2020

ampldquoGrowth in electric vehicles can facilitate greatly in energy transition but the market poses formidable infrastructure andfinancing challenges for Indian policy makersamprdquo Bridge to India wrote in a 1 May note

EV sales in India grew by 375 to 22000 units in the year ended 31 March 2016 according to industry lobby group Society ofManufacturers of Electric Vehicles Of these only 2000 units were four-wheelers

The Bridge to India note also compared the EV markets of India and China

ampldquoIndia has made little progress in electric mobility since the announcement of the National Electric Mobility Mission Plan in2013 aiming for over 6 million electrichybrid vehicles by 2020amprdquo the note said adding ampldquoIn comparison China is aworld leader in electric vehicles with over 50 global annual market share Local manufacturers such as BYD and BAIC are worldleaders in this market The country is considering ramping up progress even further and wants 8 of all vehicles to be electricallypowered by next yearamprdquo

The Indian government has been trying to push sales of EVs The Centre is exploring measures ranging from leasing of EVs totransferring technology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centrefor use in automobiles It is also exploring a strategy that involves reducing the battery size to bring down EV prices

ampldquoElectric vehicles market is growing rapidly worldwide fuelled by stricter environmental measures technology improvementsand cost reduction in energy storage It is also seen as a vital link in achieving energy transition That explains the lead taken by thepower minister Piyush Goyal on the electric mobility initiative despite automobiles falling under the ambit of the Ministry of HeavyIndustriesamprdquo the note added

Goyal has stated that the growth of solar power and EVs in India are inextricably linked given that EVs have batteries that can offera storage solution to the countryamprsquos clean energy push As solar power generated during the day needs to be stored inbatteries the storage capability of EV batteries could help with grid balancing

India plans to achieve 175 GW of renewable energy capacity by 2022 Of this 100GW is set to come from solar projects

ampldquoGrowth in sales of electric vehicles will lead to more demand for (renewable) power help in creating a flexible demandsource to tackle intermittency issues of renewable power and reduce reliance on (mostly imported) oilamprdquo the note said

Shifting to EVs will also check pollution and fuel imports India the biggest emitter of greenhouse gases after the US and Chinaplans to reduce its carbon footprint by 33-35 from its 2005 levels by 2030 as part of its commitments to the United NationsFramework Convention on Climate Change adopted by 195 countries in Paris in 2015

ampldquoThe ambitions now need to be backed with actions But while India has a large domestic market it lacks the fiscal capabilityand ambition of China and the technology expertise of Japan or South Koreaamprdquo the note cautionedhttpwwwlivemintcomIndustryOaHPVDl3rJTeJAvaYF5EfLElectric-vehicles-market-faces-financing-infrastructure-chahtml

Top

Policy push to boost electric vehicle sales Ananth Padmanabhan amp Shashank Reddymint

Ashlee Vance in his recent biography Elon Musk Tesla SpaceX And The Quest For A Fantastic Future writes that Teslaamprsquosoriginal founders encountered few venture capitalist funds willing to advance relatively modest investments their way in 2003 ButTesla grew to dethrone General Motors a few weeks ago as Americaamprsquos most valued automobile company The resistance inits formative years and Teslaamprsquos astounding success thereafter share a common cause its exclusive focus on electric cars

Market sentiment has changed over the last 14 years because of several advantages offered by electric vehicles (EVs) EVs aremuch more eco-friendly than internal combustion engines They significantly reduce the oil import bill of nations bolstering energysecurity They can also be much cheaper than conventional vehicles in the long run due to fewer moving parts lower maintenancecosts and reduced fuel expenses

However in FY16 only 22000 EVs were sold in India of which approximately 2000 were cars and the rest two-wheelers InNorway EVs accounted for 23 of all new car sales in 2015 The figure for the same year stood at 9 in the Netherlands China isnow the largest market for electric buses with over 173000 of them on its roads In 2015 China also became the top electricpassenger car market globally Perceived from this lens the Indian market for EVs has seen minimal uptake

But hope is on the horizon with the Central governmentamprsquos renewed commitment to EVs especially for public transportationThis is critical considering how India lost out in the early phase of EV adoption 2013-14 was particularly bad as electrictwo-wheeler sales crashed to a mere 21000 units from 100000 two years prior Nearly half the total number of e-bike distributorsclosed shop during that period Though the National Electric Mobility Mission Plan (Nemmp) 2020 generated positive buzz whenlaunched in January 2013 subsidies and incentives promised by the plan were difficult to come by Several new players in thissector wound up leading to a loss of innovative capabilities and solutions

On the contrary the Faster Adoption and Manufacturing of (Hybrid amp) Electric Vehicles in India (FAME) scheme launched in 2015seeks to tackle the pain points largely unaddressed by Nemmp in its first phase To overcome the scattered presence of chargingstations and the additional barrier of still-expensive batteries the Narendra Modi government is contemplating a policy push for thesale of EVs without batteries supplemented with battery leasing operations and battery swap stations This is an important stepconsidering most projections (except Teslaamprsquos own aggressive 2020 deadline) place somewhere between 2025-30 as theperiod when battery pack prices will fall below the current gold standard of $100 per kWh India cannot afford to wait that long

The xEV One consortium a collaborative effort between the government of India and car manufacturers to develop a supplier basefor critical hybrid and EV components started off on a wrong footing with Maruti Suzuki and Ford India backing out But thegovernment appears committed to the driving philosophy behind the consortiumampmdashpublic-private collaboration A recentpartnership with Ola Cabs pursuant to Masayoshi Son of SoftBank (Olaamprsquos investor) committing to a million EVs that aims tointroduce a fleet of 300 electric cars in Nagpur is a case in point

More policy innovations both from the Centre and the states are required to ensure the success of these green initiatives Thesesteps can be structured around three key themes The first and perhaps the most obvious is the targeting of direct sops andincentives for EV and component manufacturers as well as consumers From the supply side such interventions includespeed-tracking of environmental and labour clearances tax rebates and exemptions Demand-side interventions include directconsumer subsidies waiver of road tax and registration fees GST (goods and services tax) refunds and free parking spaces

The second step must be a renewed commitment on the part of governments to provide and promote greater public infrastructurefor EVs including public charging stations dedicated electric supply lines for such stations and battery swap stations Doing so willinfuse much-needed trust and confidence in this mobility solution As seen from the earlier failure of Nemmp financial incentives donot work by themselves

Third and equally important is a big boost for RampD (research and development) innovation in this space In February 2016 aTechnology Platform for Electric Mobility was initiated jointly by the departments of heavy industries and science and technologyFive projects have been accurately identified therein for ampldquodemand driven RampD to achieve desirable targetspecsamprdquoampmdashlithium battery charging infrastructure driving cycle and traffic pattern motors and drives and lightweightingof EVs These are clearly the most critical areas for research and directing funding will be instrumental in meeting the Nemmptarget of six million EVshybrids by 2020 In addition a robust system of incentives for private entities spearheading EV innovationincluding tax credits for setting up research labs is crucial

EVs offer advantages that are particularly suited to Indiaamprsquos economic and environmental conditions India must move quicklyin this space both in terms of EV adoption and innovation to transition to a cleaner greener and more efficient age of mobilityhttpwwwlivemintcomOpinion24QvIByNFcKdpn1Rg1vhYKPolicy-push-to-boost-electric-vehicle-saleshtml

Top

Interviews amp Features

Cars SUVs MUVs

Petrol variant of Renault Duster with CVT gearbox launched at Rs 1032 lakh (Ex-Delhi) The Economic Times (Web Edition)

New Delhi Renault India in a press release announced the launch of Renault Duster petrol range with CVT (Continuously VariableTiming) transmission starting at Rs 1032 lakh (Ex-Delhi) The petrol variants of the Duster SUV is equipped with the 15L H4Kpetrol powertrain and is available in two trims RXE and RXL The CVT transmission is only available on the RXL variant

The petrol powertrain in the manual transmission (MT) is now offered at an introductory starting price of INR 849 Lakh (ex-Delhi)

Renault Duster CVT comes with easy selection drive modes ampndash P (Park) R (Reverse) N (Neutral) D (Drive) and a 6 speedmanual mode option

Commenting on the launch of the new Duster petrol range and the Duster CVT Sumit Sawhney Country CEO and ManagingDirector Renault India Operations said ampldquoWe have a clear goal of growing the Renault brand in India Towards this we arestrategically strengthening our product range expanding our network reach and initiating pioneering measures to ensure customerdelight

Duster plays a pivotal role in our product portfolio and with the introduction of the new petrol range with CVT Renault has thewidest offering in the segment enabling us to best cater to evolving customer needs We are confident that the new Duster petrolrange with the CVT will resonate well with discerning Indian customers in the fastest growing vehicle segment in Indiaamprdquo

The CVT is currently offered with 2WD and a 6-speed manual mode is also offered in the vehicle The Renault Duster CVT petrolgets a 15-litre four-cylinder engine unit that produces 106 PS amp 142 Nm of torque Renault India claims a mileage of 1499 kmpl onits petrol Duster with CVT gear box and 1419 kmpl on the manual gearbox

The company has sold over 16 lakh units of Duster SUV in India since its launch It is one of the best-selling SUVamprsquos for thecompany world-wide being marketed in over 100 countries and manufactured in 5 countries

Bookings for the New Duster petrol range in both MT and CVT versions have commenced across dealershipshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvpetrol-variant-of-renault-duster-with-cvt-gearbox-launched-at-rs-10-32-lakh-ex-delhi58477826Renault drives in Duster petrol with CVT at Rs 1032 lakhThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesrenault-drives-in-duster-petrol-with-cvt-at-rs-10-32-lakharticleshow58479398cms Renault drives in Duster petrol with CVT at Rs 1032 lakhDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-renault-drives-in-duster-petrol-with-cvt-at-rs-1032-lakh-2425171Renault Duster Petrol CVT automatic transmission variant launched at Rs 1032 lakhThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsrenault-duster-petrol-cvt-automatic-transmission-variant-launched-at-rs-10-32-lakh651110

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Maruti Suzuki hits new record high Sensex reclaims 30000-level Rahul OberoiThe Economic Times (Web Edition)

New Delhi Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after thecountryamprsquos largest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569units sold in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

The carmaker reported a 158 per cent rise in net profit at Rs 1709 crore for the fourth quarter of last financial year ended March31 2017 It had posted a net profit of Rs 14762 crore for the same period in the previous financial year

Net sales during the fourth quarter of 2016-17 rose to Rs 180052 crore up 203 per cent against the year-ago period

Brokerage house HDFC Securities is bullish on Maruti Suzuki ampldquoWith 20 per cent EPS CAGR over FY17-19E and structuralimprovement in RoE (at around 25 per cent by FY19E vs 10 year average of around 17 per cent) we maintain aamplsquoBuyamprsquo on Maruti with a target price of Rs 7070

According to Edelweiss Securities long waiting periods for key products a structured launch programme superior franchise andsolid financials (9 per cent free cash flow to sales RoE of around 225 per cent in FY19E) will enable Maruti Suzuki sustain marketshare gains ampldquoWe maintain amplsquoBuyamprsquo on Maruti with a target price of Rs 6928amprdquo Edelweiss said

Sensex reclaims 30000-levelBSE benchmark Sensex recouped over 134 points to trade above the 30000-mark in early trade on Tuesday on the back ofwidespread gains triggered by encouraging corporate earnings

The 30-share index rose by 13433 points or 044 per cent to 3005273 The gauge had lost 21495 points in the previous twosessions

All the sectoral indices led by consumer durables PSU metal auto bank and IT were trading in the positive zone rising by up to096 per cent

The Nifty also advanced 3775 points or 040 per cent to 934185

Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong autosales data in April month amid a mixed trend at other Asian bourses

Prominent gainers were Maruti Suzuki Hero MotoCorp ONGC Bajaj Auto HDFC Ltd Asian Paint TCS Tata Steel SBI AxisBank Adani Ports ITC Ltd ICICI Bank Infosys and Wipro

Among Asian markets Japans Nikkei was up 070 per cent while Hong Kongs Hang Seng gained 027 per cent in early tradetoday Shanghai Composite Index however fell 032 per cent

The US Dow Jones Industrial Average ended 013 per cent lower in yesterdays tradehttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-hits-new-record-high-sensex-reclaims-30000-level58470869Maruti shares up nearly 3 mcap surges by Rs 5442 crThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266eceMaruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh croreBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Maruti Suzuki drives into select club Ashutosh R ShyamThe Economic Times (Web amp Print Edition)

Maruti Suzuki has pipped global car majors Audi Hyundai Subaru and Renault to enter the club of top ten auto makers by marketcapitalisation reports Ashutosh R Shyam The high double-digit volume growth last month catapulted Marutis m-cap to Rs 2 lakhcrore ($3155 billion) on Tuesday a first for an Indian auto company

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

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Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 7: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

The Bridge to India note also compared the EV markets of India and China

ampldquoIndia has made little progress in electric mobility since the announcement of the National Electric Mobility Mission Plan in2013 aiming for over 6 million electrichybrid vehicles by 2020amprdquo the note said adding ampldquoIn comparison China is aworld leader in electric vehicles with over 50 global annual market share Local manufacturers such as BYD and BAIC are worldleaders in this market The country is considering ramping up progress even further and wants 8 of all vehicles to be electricallypowered by next yearamprdquo

The Indian government has been trying to push sales of EVs The Centre is exploring measures ranging from leasing of EVs totransferring technology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centrefor use in automobiles It is also exploring a strategy that involves reducing the battery size to bring down EV prices

ampldquoElectric vehicles market is growing rapidly worldwide fuelled by stricter environmental measures technology improvementsand cost reduction in energy storage It is also seen as a vital link in achieving energy transition That explains the lead taken by thepower minister Piyush Goyal on the electric mobility initiative despite automobiles falling under the ambit of the Ministry of HeavyIndustriesamprdquo the note added

Goyal has stated that the growth of solar power and EVs in India are inextricably linked given that EVs have batteries that can offera storage solution to the countryamprsquos clean energy push As solar power generated during the day needs to be stored inbatteries the storage capability of EV batteries could help with grid balancing

India plans to achieve 175 GW of renewable energy capacity by 2022 Of this 100GW is set to come from solar projects

ampldquoGrowth in sales of electric vehicles will lead to more demand for (renewable) power help in creating a flexible demandsource to tackle intermittency issues of renewable power and reduce reliance on (mostly imported) oilamprdquo the note said

Shifting to EVs will also check pollution and fuel imports India the biggest emitter of greenhouse gases after the US and Chinaplans to reduce its carbon footprint by 33-35 from its 2005 levels by 2030 as part of its commitments to the United NationsFramework Convention on Climate Change adopted by 195 countries in Paris in 2015

ampldquoThe ambitions now need to be backed with actions But while India has a large domestic market it lacks the fiscal capabilityand ambition of China and the technology expertise of Japan or South Koreaamprdquo the note cautionedhttpwwwlivemintcomIndustryOaHPVDl3rJTeJAvaYF5EfLElectric-vehicles-market-faces-financing-infrastructure-chahtml

Top

Policy push to boost electric vehicle sales Ananth Padmanabhan amp Shashank Reddymint

Ashlee Vance in his recent biography Elon Musk Tesla SpaceX And The Quest For A Fantastic Future writes that Teslaamprsquosoriginal founders encountered few venture capitalist funds willing to advance relatively modest investments their way in 2003 ButTesla grew to dethrone General Motors a few weeks ago as Americaamprsquos most valued automobile company The resistance inits formative years and Teslaamprsquos astounding success thereafter share a common cause its exclusive focus on electric cars

Market sentiment has changed over the last 14 years because of several advantages offered by electric vehicles (EVs) EVs aremuch more eco-friendly than internal combustion engines They significantly reduce the oil import bill of nations bolstering energysecurity They can also be much cheaper than conventional vehicles in the long run due to fewer moving parts lower maintenancecosts and reduced fuel expenses

However in FY16 only 22000 EVs were sold in India of which approximately 2000 were cars and the rest two-wheelers InNorway EVs accounted for 23 of all new car sales in 2015 The figure for the same year stood at 9 in the Netherlands China isnow the largest market for electric buses with over 173000 of them on its roads In 2015 China also became the top electricpassenger car market globally Perceived from this lens the Indian market for EVs has seen minimal uptake

But hope is on the horizon with the Central governmentamprsquos renewed commitment to EVs especially for public transportationThis is critical considering how India lost out in the early phase of EV adoption 2013-14 was particularly bad as electrictwo-wheeler sales crashed to a mere 21000 units from 100000 two years prior Nearly half the total number of e-bike distributorsclosed shop during that period Though the National Electric Mobility Mission Plan (Nemmp) 2020 generated positive buzz whenlaunched in January 2013 subsidies and incentives promised by the plan were difficult to come by Several new players in thissector wound up leading to a loss of innovative capabilities and solutions

On the contrary the Faster Adoption and Manufacturing of (Hybrid amp) Electric Vehicles in India (FAME) scheme launched in 2015seeks to tackle the pain points largely unaddressed by Nemmp in its first phase To overcome the scattered presence of chargingstations and the additional barrier of still-expensive batteries the Narendra Modi government is contemplating a policy push for thesale of EVs without batteries supplemented with battery leasing operations and battery swap stations This is an important stepconsidering most projections (except Teslaamprsquos own aggressive 2020 deadline) place somewhere between 2025-30 as theperiod when battery pack prices will fall below the current gold standard of $100 per kWh India cannot afford to wait that long

The xEV One consortium a collaborative effort between the government of India and car manufacturers to develop a supplier basefor critical hybrid and EV components started off on a wrong footing with Maruti Suzuki and Ford India backing out But thegovernment appears committed to the driving philosophy behind the consortiumampmdashpublic-private collaboration A recentpartnership with Ola Cabs pursuant to Masayoshi Son of SoftBank (Olaamprsquos investor) committing to a million EVs that aims tointroduce a fleet of 300 electric cars in Nagpur is a case in point

More policy innovations both from the Centre and the states are required to ensure the success of these green initiatives Thesesteps can be structured around three key themes The first and perhaps the most obvious is the targeting of direct sops andincentives for EV and component manufacturers as well as consumers From the supply side such interventions includespeed-tracking of environmental and labour clearances tax rebates and exemptions Demand-side interventions include directconsumer subsidies waiver of road tax and registration fees GST (goods and services tax) refunds and free parking spaces

The second step must be a renewed commitment on the part of governments to provide and promote greater public infrastructurefor EVs including public charging stations dedicated electric supply lines for such stations and battery swap stations Doing so willinfuse much-needed trust and confidence in this mobility solution As seen from the earlier failure of Nemmp financial incentives donot work by themselves

Third and equally important is a big boost for RampD (research and development) innovation in this space In February 2016 aTechnology Platform for Electric Mobility was initiated jointly by the departments of heavy industries and science and technologyFive projects have been accurately identified therein for ampldquodemand driven RampD to achieve desirable targetspecsamprdquoampmdashlithium battery charging infrastructure driving cycle and traffic pattern motors and drives and lightweightingof EVs These are clearly the most critical areas for research and directing funding will be instrumental in meeting the Nemmptarget of six million EVshybrids by 2020 In addition a robust system of incentives for private entities spearheading EV innovationincluding tax credits for setting up research labs is crucial

EVs offer advantages that are particularly suited to Indiaamprsquos economic and environmental conditions India must move quicklyin this space both in terms of EV adoption and innovation to transition to a cleaner greener and more efficient age of mobilityhttpwwwlivemintcomOpinion24QvIByNFcKdpn1Rg1vhYKPolicy-push-to-boost-electric-vehicle-saleshtml

Top

Interviews amp Features

Cars SUVs MUVs

Petrol variant of Renault Duster with CVT gearbox launched at Rs 1032 lakh (Ex-Delhi) The Economic Times (Web Edition)

New Delhi Renault India in a press release announced the launch of Renault Duster petrol range with CVT (Continuously VariableTiming) transmission starting at Rs 1032 lakh (Ex-Delhi) The petrol variants of the Duster SUV is equipped with the 15L H4Kpetrol powertrain and is available in two trims RXE and RXL The CVT transmission is only available on the RXL variant

The petrol powertrain in the manual transmission (MT) is now offered at an introductory starting price of INR 849 Lakh (ex-Delhi)

Renault Duster CVT comes with easy selection drive modes ampndash P (Park) R (Reverse) N (Neutral) D (Drive) and a 6 speedmanual mode option

Commenting on the launch of the new Duster petrol range and the Duster CVT Sumit Sawhney Country CEO and ManagingDirector Renault India Operations said ampldquoWe have a clear goal of growing the Renault brand in India Towards this we arestrategically strengthening our product range expanding our network reach and initiating pioneering measures to ensure customerdelight

Duster plays a pivotal role in our product portfolio and with the introduction of the new petrol range with CVT Renault has thewidest offering in the segment enabling us to best cater to evolving customer needs We are confident that the new Duster petrolrange with the CVT will resonate well with discerning Indian customers in the fastest growing vehicle segment in Indiaamprdquo

The CVT is currently offered with 2WD and a 6-speed manual mode is also offered in the vehicle The Renault Duster CVT petrolgets a 15-litre four-cylinder engine unit that produces 106 PS amp 142 Nm of torque Renault India claims a mileage of 1499 kmpl onits petrol Duster with CVT gear box and 1419 kmpl on the manual gearbox

The company has sold over 16 lakh units of Duster SUV in India since its launch It is one of the best-selling SUVamprsquos for thecompany world-wide being marketed in over 100 countries and manufactured in 5 countries

Bookings for the New Duster petrol range in both MT and CVT versions have commenced across dealershipshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvpetrol-variant-of-renault-duster-with-cvt-gearbox-launched-at-rs-10-32-lakh-ex-delhi58477826Renault drives in Duster petrol with CVT at Rs 1032 lakhThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesrenault-drives-in-duster-petrol-with-cvt-at-rs-10-32-lakharticleshow58479398cms Renault drives in Duster petrol with CVT at Rs 1032 lakhDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-renault-drives-in-duster-petrol-with-cvt-at-rs-1032-lakh-2425171Renault Duster Petrol CVT automatic transmission variant launched at Rs 1032 lakhThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsrenault-duster-petrol-cvt-automatic-transmission-variant-launched-at-rs-10-32-lakh651110

Top

Maruti Suzuki hits new record high Sensex reclaims 30000-level Rahul OberoiThe Economic Times (Web Edition)

New Delhi Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after thecountryamprsquos largest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569units sold in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

The carmaker reported a 158 per cent rise in net profit at Rs 1709 crore for the fourth quarter of last financial year ended March31 2017 It had posted a net profit of Rs 14762 crore for the same period in the previous financial year

Net sales during the fourth quarter of 2016-17 rose to Rs 180052 crore up 203 per cent against the year-ago period

Brokerage house HDFC Securities is bullish on Maruti Suzuki ampldquoWith 20 per cent EPS CAGR over FY17-19E and structuralimprovement in RoE (at around 25 per cent by FY19E vs 10 year average of around 17 per cent) we maintain aamplsquoBuyamprsquo on Maruti with a target price of Rs 7070

According to Edelweiss Securities long waiting periods for key products a structured launch programme superior franchise andsolid financials (9 per cent free cash flow to sales RoE of around 225 per cent in FY19E) will enable Maruti Suzuki sustain marketshare gains ampldquoWe maintain amplsquoBuyamprsquo on Maruti with a target price of Rs 6928amprdquo Edelweiss said

Sensex reclaims 30000-levelBSE benchmark Sensex recouped over 134 points to trade above the 30000-mark in early trade on Tuesday on the back ofwidespread gains triggered by encouraging corporate earnings

The 30-share index rose by 13433 points or 044 per cent to 3005273 The gauge had lost 21495 points in the previous twosessions

All the sectoral indices led by consumer durables PSU metal auto bank and IT were trading in the positive zone rising by up to096 per cent

The Nifty also advanced 3775 points or 040 per cent to 934185

Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong autosales data in April month amid a mixed trend at other Asian bourses

Prominent gainers were Maruti Suzuki Hero MotoCorp ONGC Bajaj Auto HDFC Ltd Asian Paint TCS Tata Steel SBI AxisBank Adani Ports ITC Ltd ICICI Bank Infosys and Wipro

Among Asian markets Japans Nikkei was up 070 per cent while Hong Kongs Hang Seng gained 027 per cent in early tradetoday Shanghai Composite Index however fell 032 per cent

The US Dow Jones Industrial Average ended 013 per cent lower in yesterdays tradehttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-hits-new-record-high-sensex-reclaims-30000-level58470869Maruti shares up nearly 3 mcap surges by Rs 5442 crThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266eceMaruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh croreBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Maruti Suzuki drives into select club Ashutosh R ShyamThe Economic Times (Web amp Print Edition)

Maruti Suzuki has pipped global car majors Audi Hyundai Subaru and Renault to enter the club of top ten auto makers by marketcapitalisation reports Ashutosh R Shyam The high double-digit volume growth last month catapulted Marutis m-cap to Rs 2 lakhcrore ($3155 billion) on Tuesday a first for an Indian auto company

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

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Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 8: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

More policy innovations both from the Centre and the states are required to ensure the success of these green initiatives Thesesteps can be structured around three key themes The first and perhaps the most obvious is the targeting of direct sops andincentives for EV and component manufacturers as well as consumers From the supply side such interventions includespeed-tracking of environmental and labour clearances tax rebates and exemptions Demand-side interventions include directconsumer subsidies waiver of road tax and registration fees GST (goods and services tax) refunds and free parking spaces

The second step must be a renewed commitment on the part of governments to provide and promote greater public infrastructurefor EVs including public charging stations dedicated electric supply lines for such stations and battery swap stations Doing so willinfuse much-needed trust and confidence in this mobility solution As seen from the earlier failure of Nemmp financial incentives donot work by themselves

Third and equally important is a big boost for RampD (research and development) innovation in this space In February 2016 aTechnology Platform for Electric Mobility was initiated jointly by the departments of heavy industries and science and technologyFive projects have been accurately identified therein for ampldquodemand driven RampD to achieve desirable targetspecsamprdquoampmdashlithium battery charging infrastructure driving cycle and traffic pattern motors and drives and lightweightingof EVs These are clearly the most critical areas for research and directing funding will be instrumental in meeting the Nemmptarget of six million EVshybrids by 2020 In addition a robust system of incentives for private entities spearheading EV innovationincluding tax credits for setting up research labs is crucial

EVs offer advantages that are particularly suited to Indiaamprsquos economic and environmental conditions India must move quicklyin this space both in terms of EV adoption and innovation to transition to a cleaner greener and more efficient age of mobilityhttpwwwlivemintcomOpinion24QvIByNFcKdpn1Rg1vhYKPolicy-push-to-boost-electric-vehicle-saleshtml

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Interviews amp Features

Cars SUVs MUVs

Petrol variant of Renault Duster with CVT gearbox launched at Rs 1032 lakh (Ex-Delhi) The Economic Times (Web Edition)

New Delhi Renault India in a press release announced the launch of Renault Duster petrol range with CVT (Continuously VariableTiming) transmission starting at Rs 1032 lakh (Ex-Delhi) The petrol variants of the Duster SUV is equipped with the 15L H4Kpetrol powertrain and is available in two trims RXE and RXL The CVT transmission is only available on the RXL variant

The petrol powertrain in the manual transmission (MT) is now offered at an introductory starting price of INR 849 Lakh (ex-Delhi)

Renault Duster CVT comes with easy selection drive modes ampndash P (Park) R (Reverse) N (Neutral) D (Drive) and a 6 speedmanual mode option

Commenting on the launch of the new Duster petrol range and the Duster CVT Sumit Sawhney Country CEO and ManagingDirector Renault India Operations said ampldquoWe have a clear goal of growing the Renault brand in India Towards this we arestrategically strengthening our product range expanding our network reach and initiating pioneering measures to ensure customerdelight

Duster plays a pivotal role in our product portfolio and with the introduction of the new petrol range with CVT Renault has thewidest offering in the segment enabling us to best cater to evolving customer needs We are confident that the new Duster petrolrange with the CVT will resonate well with discerning Indian customers in the fastest growing vehicle segment in Indiaamprdquo

The CVT is currently offered with 2WD and a 6-speed manual mode is also offered in the vehicle The Renault Duster CVT petrolgets a 15-litre four-cylinder engine unit that produces 106 PS amp 142 Nm of torque Renault India claims a mileage of 1499 kmpl onits petrol Duster with CVT gear box and 1419 kmpl on the manual gearbox

The company has sold over 16 lakh units of Duster SUV in India since its launch It is one of the best-selling SUVamprsquos for thecompany world-wide being marketed in over 100 countries and manufactured in 5 countries

Bookings for the New Duster petrol range in both MT and CVT versions have commenced across dealershipshttpautoeconomictimesindiatimescomnewspassenger-vehicleuvpetrol-variant-of-renault-duster-with-cvt-gearbox-launched-at-rs-10-32-lakh-ex-delhi58477826Renault drives in Duster petrol with CVT at Rs 1032 lakhThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesrenault-drives-in-duster-petrol-with-cvt-at-rs-10-32-lakharticleshow58479398cms Renault drives in Duster petrol with CVT at Rs 1032 lakhDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-renault-drives-in-duster-petrol-with-cvt-at-rs-1032-lakh-2425171Renault Duster Petrol CVT automatic transmission variant launched at Rs 1032 lakhThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsrenault-duster-petrol-cvt-automatic-transmission-variant-launched-at-rs-10-32-lakh651110

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Maruti Suzuki hits new record high Sensex reclaims 30000-level Rahul OberoiThe Economic Times (Web Edition)

New Delhi Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after thecountryamprsquos largest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569units sold in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

The carmaker reported a 158 per cent rise in net profit at Rs 1709 crore for the fourth quarter of last financial year ended March31 2017 It had posted a net profit of Rs 14762 crore for the same period in the previous financial year

Net sales during the fourth quarter of 2016-17 rose to Rs 180052 crore up 203 per cent against the year-ago period

Brokerage house HDFC Securities is bullish on Maruti Suzuki ampldquoWith 20 per cent EPS CAGR over FY17-19E and structuralimprovement in RoE (at around 25 per cent by FY19E vs 10 year average of around 17 per cent) we maintain aamplsquoBuyamprsquo on Maruti with a target price of Rs 7070

According to Edelweiss Securities long waiting periods for key products a structured launch programme superior franchise andsolid financials (9 per cent free cash flow to sales RoE of around 225 per cent in FY19E) will enable Maruti Suzuki sustain marketshare gains ampldquoWe maintain amplsquoBuyamprsquo on Maruti with a target price of Rs 6928amprdquo Edelweiss said

Sensex reclaims 30000-levelBSE benchmark Sensex recouped over 134 points to trade above the 30000-mark in early trade on Tuesday on the back ofwidespread gains triggered by encouraging corporate earnings

The 30-share index rose by 13433 points or 044 per cent to 3005273 The gauge had lost 21495 points in the previous twosessions

All the sectoral indices led by consumer durables PSU metal auto bank and IT were trading in the positive zone rising by up to096 per cent

The Nifty also advanced 3775 points or 040 per cent to 934185

Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong autosales data in April month amid a mixed trend at other Asian bourses

Prominent gainers were Maruti Suzuki Hero MotoCorp ONGC Bajaj Auto HDFC Ltd Asian Paint TCS Tata Steel SBI AxisBank Adani Ports ITC Ltd ICICI Bank Infosys and Wipro

Among Asian markets Japans Nikkei was up 070 per cent while Hong Kongs Hang Seng gained 027 per cent in early tradetoday Shanghai Composite Index however fell 032 per cent

The US Dow Jones Industrial Average ended 013 per cent lower in yesterdays tradehttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-hits-new-record-high-sensex-reclaims-30000-level58470869Maruti shares up nearly 3 mcap surges by Rs 5442 crThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266eceMaruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh croreBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

Top

Maruti Suzuki drives into select club Ashutosh R ShyamThe Economic Times (Web amp Print Edition)

Maruti Suzuki has pipped global car majors Audi Hyundai Subaru and Renault to enter the club of top ten auto makers by marketcapitalisation reports Ashutosh R Shyam The high double-digit volume growth last month catapulted Marutis m-cap to Rs 2 lakhcrore ($3155 billion) on Tuesday a first for an Indian auto company

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

Top

Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

Top

Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

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Maruti Suzuki hits new record high Sensex reclaims 30000-level Rahul OberoiThe Economic Times (Web Edition)

New Delhi Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after thecountryamprsquos largest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569units sold in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

The carmaker reported a 158 per cent rise in net profit at Rs 1709 crore for the fourth quarter of last financial year ended March31 2017 It had posted a net profit of Rs 14762 crore for the same period in the previous financial year

Net sales during the fourth quarter of 2016-17 rose to Rs 180052 crore up 203 per cent against the year-ago period

Brokerage house HDFC Securities is bullish on Maruti Suzuki ampldquoWith 20 per cent EPS CAGR over FY17-19E and structuralimprovement in RoE (at around 25 per cent by FY19E vs 10 year average of around 17 per cent) we maintain aamplsquoBuyamprsquo on Maruti with a target price of Rs 7070

According to Edelweiss Securities long waiting periods for key products a structured launch programme superior franchise andsolid financials (9 per cent free cash flow to sales RoE of around 225 per cent in FY19E) will enable Maruti Suzuki sustain marketshare gains ampldquoWe maintain amplsquoBuyamprsquo on Maruti with a target price of Rs 6928amprdquo Edelweiss said

Sensex reclaims 30000-levelBSE benchmark Sensex recouped over 134 points to trade above the 30000-mark in early trade on Tuesday on the back ofwidespread gains triggered by encouraging corporate earnings

The 30-share index rose by 13433 points or 044 per cent to 3005273 The gauge had lost 21495 points in the previous twosessions

All the sectoral indices led by consumer durables PSU metal auto bank and IT were trading in the positive zone rising by up to096 per cent

The Nifty also advanced 3775 points or 040 per cent to 934185

Brokers said sentiment was influenced by emergence of buying by participants driven by encouraging earnings and strong autosales data in April month amid a mixed trend at other Asian bourses

Prominent gainers were Maruti Suzuki Hero MotoCorp ONGC Bajaj Auto HDFC Ltd Asian Paint TCS Tata Steel SBI AxisBank Adani Ports ITC Ltd ICICI Bank Infosys and Wipro

Among Asian markets Japans Nikkei was up 070 per cent while Hong Kongs Hang Seng gained 027 per cent in early tradetoday Shanghai Composite Index however fell 032 per cent

The US Dow Jones Industrial Average ended 013 per cent lower in yesterdays tradehttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-hits-new-record-high-sensex-reclaims-30000-level58470869Maruti shares up nearly 3 mcap surges by Rs 5442 crThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266eceMaruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh croreBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Maruti Suzuki drives into select club Ashutosh R ShyamThe Economic Times (Web amp Print Edition)

Maruti Suzuki has pipped global car majors Audi Hyundai Subaru and Renault to enter the club of top ten auto makers by marketcapitalisation reports Ashutosh R Shyam The high double-digit volume growth last month catapulted Marutis m-cap to Rs 2 lakhcrore ($3155 billion) on Tuesday a first for an Indian auto company

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

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Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

Top

Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

Top

Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd

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Page 10: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

It has also emerged the second most valued stock after Tesla on the basis of m-cap to sales ratio The scrip is trading at 249 timesone-year projected earnings at a time most large global car companies are at single digit PE multiples Despite the stock deliveringreturns of 75 in past 12 months three out of four analysts have a buy rating on Maruti which is the highest among top globalcarmakers In 2017 and 2018 Marutis average earnings growth is expected to be 145 while global peers are staring atlow-single-digit expansion according to Bloomberg consensushttpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-suzuki-drives-into-select-clubarticleshow58484243cms

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Isuzu MU-X SUV launch date confirmed The Economic Times (Web Edition)

New Delhi Indian arm of Japanese auto-maker Isuzu Motors will launch its new SUV Isuzu MU-X in the country on May 112017confirmed the company

Isuzus new SUV will be manufactured from the companys new plant in Sri City Andhra Pradesh The MU-X SUV is likely to bepriced aggressively as it is going to see high levels of localisation

Isuzu MU-X will replace the MU-7 SUV and shares its platform with V-Cross D-max pick up vehicle It also gets a design and faceidentical to the V-Cross It is a full-fledged SUV and features third row seats Chevrolet Trailblazer also shares the sameunderpinnings

The SUV will be launched in both 4X2 and 4X2 variants and will be powered by the same 30L diesel engine that sheds out 161 bhpof power and 360 Nm of torque The SUV will get the option of both manual and automatic transmissions

Isuzu Motors Sri City plant has an annual capacity of 50000 units which can be increased to 120 lakh units as and when requiredThe Japanese UV maker has made an investment of Rs 3000 crore on this plant that commenced production in April 2016 Thecompany will most likely commence exports from this plant starting with MU-X SUV

Isuzu MU-X takes on the likes of Ford Endeavour Toyota Fortuner and Mitsubishi Pajero Sport and is likely to be priced at aroundRs 25 lakh (ex showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvisuzu-mu-x-suv-launch-date-confirmed58472245Isuzu to launch MU-X to rival Fortuner and EndeavourThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesisuzu-to-launch-mu-x-to-rival-fortuner-and-endeavourarticleshow58469972cms

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Maruti tenth highest valued Indian firm Ajay ModiBusiness Standard (Web amp Print Edition)

New Delhi It took the countrys biggest car maker a long ride but it has hit a milestone Listed in 2003 Maruti Suzukis marketcapitalisation crossed Rs 200000 crore on Tuesday making it the 10th highest valued entity

Maruti has for a while been the highest valued domestic automobile company ahead of Tata Motors and Mahindra amp Mahindra

Two things helped the northward movement in its stock price First came its annual and fourth quarter results on Thursday when itsshare hit a new record of Rs 6444 and the market cap inched closer to the Rs 200000-crore mark The company clocked a recordprofit of Rs 7337 crore in FY17 about 37 per cent higher than the previous year Year after year it has shown a volume growthhigher than the average industry performance In FY17 its volumes grew by almost 10 per cent to 156 million vehicles a 473 percent share in the worlds fifth-biggest car market

The second trigger came on Monday when it announced its April sales volume It dispatched a record 151215 vehicles last month(including small export volumes) growing a little more than 19 per cent to the corresponding month of last year The stock marketswere closed on Monday and the stock reacted to this news on Tuesday hitting a new high of Rs 6730 and closing at Rs 6705 up28 per cent from the previous day at the BSE

The company was facing a capacity constraint visible in the months of waiting period for its Baleno and Brezza models This hasseen some easing after parent Suzuki inaugurated its Gujarat factory Maruti is again confident of a double-digit growth in annualvolume and expects to do better than the industry managing director and chief executive officer Kenichi Ayukawa said recently

Interest in the stock remains high On Tuesday a block purchase of about 44000 shares was done for Rs 293 crore The growthprojections are triggering a new target price for the stock which now trades at a price to earnings ratio of 2995 ICICI Direct hasgiven a Buy call with a target price of Rs 7200 while HDFC Securities has one of Rs 7070 That might help the company move upin the list of most valued domestic companies At a Rs 202564 crore market cap on Tuesday it is closer to Infosys ninth in the listwith a Rs 211548 crore market cap

Maruti Suzuki which commands a 53 per cent greater valuation to Japanese parent Suzuki is now the fifth highest valued Asianautomobile company ampmdash after Toyota Motor Honda Motor SAIC Motor and Nissan SAIC is a Chinese entity the others areJapanesehttpwwwbusiness-standardcomarticlecompaniesmaruti-tenth-highest-valued-indian-firm-117050201046_1html

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Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

Top

Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 11: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Top

Skoda opens booking for Kodiaq five months ahead of its launch in India The Economic Times (Web Edition)

New Delhi Czech-based car maker Skoda Auto is planning to launch its much-awaited premium SUV Kodiaq in end of Septemberor early October in India The carmaker has started accepting booking five months prior the launch which is a much longer periodthan any other car launched in India as confirmed by various dealers of the carmaker

The premium SUV can be booked for a sum of Rs 51000 - Rs 1 lakh across various dealerships Based on Volkswagens MQBplatform Skoda Kodiaq will share components with its cousin Tiguan which is slated for launch in May 2017

Dealer sources confirmed that Skoda Kodiaq will come at a price band of Rs 25 lakh- Rs 30 lakh (ex-showroom) and will competewith the likes of Toyota Fortuner Ford Endeavour Chevrolet Trailblazer and Volkswagen Tiguan (yet to be launched)

The premium SUV was first showcased at the 2016 Geneva Motor show Based on Vision S concept Skoda Kodiaq will come witha host of features like adaptive cruise control emergency auto braking with radar assist dynamic chassis control and will also boastof different driving modes

It is expected that the SUV will come with both petrol and diesel fuel options The petrol engine will come with a capacity of 2000ccwhich can produce 177 hp of power and 320 NM of peak torque The diesel model will also have 2000cc engine with a 4-cylinderturbocharged unit that will produce 147 Hp of power and 340 NM of torque

Skoda Kodiaq will be manufactured at the automakers Aurangabad facility in Maharashtra Skoda Kodiaq name refers to the Kodiakbear that lives on the homonymous island off the southern coast of Alaska its spelling is derived from the language of theindigenous people ampndash the Alutiiqhttpautoeconomictimesindiatimescomnewspassenger-vehicleuvskoda-opens-booking-for-kodiaq-five-months-ahead-of-its-launch-in-india58473018

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Toyota likely to launch new Innova Crysta Touring Sport on May 4 Daily News amp Analysis (Web Edition)

Toyota had launched the new Innova Crysta in India an year ago replacing the popular MPV the Innova Now the organization isplanning to add a new variant to the Multi Purpose Vehicle with the new Innova Crysta Touring Sport The new car is most likely tobe launched in India on May 4 suggests reports The car has been launched as Innova Crysta Venturer in Indonesia and will onlybe available in the top end ZX trim Reports add that the car will only be undergoing cosmetic changes

In terms of design the Innova Crysta Touring Sport Edition will boast black paint with dark chrome grillea modern fog lamp withdark chrome ornament and side rocker moulding with chrome plating Other decorative additions will include a black front bumperspoiler with chrome plating and front grille boomerang ornament At the back too the embellishments continue with the SportEdition gettting sturdy black backdoor garnish black rear bumper spoiler with chrome plating arch wheel moulding and new 17black alloy wheels The Crysta Touring Sport edition will also have an 8inch advanced entertainment system with voice commandautomatic climate control new premium leather seat and smart entry key

The engine of the Toyota Innova Crysta comes with an all-new 28 L diesel engine and an all new frame For the first time it willalso have an all-new six-speed automatic transmission with sequential shift It also offers an alternative in the form of a new 24 Ldiesel engine with five-speed manual transmission As per ARAI certification the Innova Crysta gives best in class performancewith 174 PS and 360 Nm torque all while offering fuel economy of 1429 Kml for the 28L six-speed automatic transmission variantand 1510 Kml for the 24L five-speed manual transmission variant

The Innova Crysta Touring Sport Edition will have ABS EBD Vehicle Stability control Hill assist control and ISOFIX for child safety

The prices of the new Sport Touring Crysta based on ex-showroom New Delhi is expected to be between Rs 25000- Rs 30000more than the current generation top end variant of Innova Crysta The ZX trim of Innova Crysta is priced at Rs 2093 lakhaccording to the samehttpwwwdnaindiacommoneyreport-toyota-likely-to-launch-new-innova-crysta-touring-sport-on-may-4-2425183

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Toyota Innova Crysta Touring Sport special edition Things to know Ronak ShahThe Economic Times (Web Edition)

New Delhi Toyota Kirloskar Motor is going to celebrate the first anniversary of its Toyota Innova Crysta by launching the ToyotaInnova Crysta Touring Sport edition on May 3 2017

In its first year the company sold 79092 units of Innova Crysta MPV registering a year-on-year growth of 4317 percent Thetouring sport edition will feature more mass on the outside with a wine red body colour dark chrome front grille and a refreshed rearbumper It will continue to get projector headlamps as on the standard version of Innova Crysta

The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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The company has also added extra chrome on the sides and a plastic cladding running along the length of the car and gives itdifferent appeal than the regular Innova Crysta It will also sport all-black 17-inch alloy wheels

The sporty variant of Toyota Innova Crysta is sold in international markets like Indonesia as Toyota Venturer and expect Toyota tooffer this variant as a limited edition with restricted numbers in India

Inside the cabin the MPV will continue to come with captain seats and 6-seater layout with all-black cabin and will feature the sameinfotainment system with navigation

Mechanically the car will remain unchanged and will continue to get 27L petrol and 28L diesel engine options We expect the carto be launched only on the top-variants Special edition Toyota Innova Crysta Touring Sport is likely to cost Rs 25000 more thanthe current top-variants Currently the top end variant of the petrol version is priced at Rs 1988 lakh (Ex-Delhi) and the diesel ZXtrim costs 2119 lakh (all prices ex-showroom Delhi)httpautoeconomictimesindiatimescomnewspassenger-vehicleuvtoyota-innova-crysta-touring-sport-special-edition-things-to-know58475162

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Ford India domestic sales up 17 in April exports jump 76 The Economic Times (Web Edition)

New Delhi Indian arm of American automaker Ford has posted 17 percent growth in its domestic wholesales for the month of April2017 the company said in a media release Ford India exported 17531 vehicles in the month up 76 percent when compared withthe figures of April 2016

It continued its growth momentum in April with a steady rise in combined domestic wholesales and exports to 25149 vehicles from16470 vehicles in the corresponding month last year

ampldquoFord continues to outpace the industry with a consistent double-digit growth in domestic sales thanks to our capable anddynamic product portfolio Our promise to deliver an affordable transparent ownership experience is bringing scores of newcustomers to the Ford familyamprdquo said Anurag Mehrotra executive director Marketing Sales amp Service at Ford India

In April Ford India introduced Sports Editions of its hatchback Figo and compact sedan Aspire

During the month Ford India started a new campaign to sensitise car buyers on the importance of safety and urging them to make ita top priority not just another choice

ampldquoThe safety of our customers and their loved ones is a top priority for Ford Hence our entire portfolio in India today comesequipped with advanced safety features such as ABS EBD side amp curtain airbags as well as industry-first knee airbag to keepvehicle occupants safeamprdquo Mehrotra added

In April Ford India also strengthened its sales and service footprint with the inauguration of new facilities in Jammu Ghaziabad andFaridabad The company now has a presence with 376 sales and service outlets covering 209 cities across Indiahttpautoeconomictimesindiatimescomnewsindustryford-india-domestic-sales-up-17-in-april-exports-jump-7658475400Ford India sales up 53 in AprilminthttpwwwlivemintcomCompaniesu0Qrw8J3W4L6MkOMzum9LKFord-India-sales-up-53-in-Aprilhtml

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Peyman Kargar takes over as interim President Nissan India Nabeel A KhanThe Economic Times (Web Edition)

New Delhi Peyman Kargar currently Senior Vice President Management Committee Chairman ofAfrica Middle East and India region (AMI) at Nissan Motor Corp takes over as interim president of Nissan India Operations

In an email to the top brass at the Indian unit of Nissan Motor Peyman Kargar said ampldquoI am writing to inform you that I will beacting as interim President of Nissan India Operations in addition to my responsibilities as Chairman of the Africa Middle East andIndia region I will be overseeing India operations including chairing the regular meetings of MC India and the functional leaders inIndia will report to meamprdquo he said

Arun Malhotra will continue to be the Managing Director NMIPL and reporting to him NMIPL is the subsidiary that takes care ofsales and marketing for Nissan India which was formed after it terminated its distributor

Peyman said that he is taking direct responsibility to ensure the company continues its focus on growth in India in the period until apermanent successor to Guillaume Sicard is appointed

Guillaume Sicard on April 28 2017 took over as vice president Sales amp Marketing at Renault Asia Pacific Region Sicard a veryclose associate of Carlos Ghosn CEO Renault-Nissan alliance took office on October 1 2014 In his role as president Sicard wasresponsible for all the companys operations in the country including manufacturing business development and network expansion

There has been rumour that former General Motors India veteran Ankush Arora was to replace Guillaume Sicard Sources did

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

Top

Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

Top

Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

Top

Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 13: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

confirm to ETAuto that Ankush did participate in the selection process along with one more top executive at another Japaneseautomobile company but things could not materialisehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsexclusive-peyman-kargar-takes-over-as-interim-president-nissan-india58478215

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Hyundai cars can now be booked online The Economic Times (Web Edition)

New Delhi Indian arm of the Korean auto-maker Hyundai Motor India in a media release announced that the company has openedthe online booking for its range of cars for ease of customers across India through wwwhyundaicoin

The company said that the booking amount ranges from Rs 5000 - 1 lakh depending on the vehicle and the variant and all the carsin its portfolio from Hyundai Eon to Hyundai Santa Fe can now be booked online

Commenting on the launch YK Koo MD amp CEO HMIL said ampldquoHyundai is a Customer Centric and Innovative brand withstrong focus on Digitalisation We have attained the leadership position within the Auto industry and are front runners in OnlineMedia Innovation and Digital Interactions The Online Car Booking will empower our customers and redefine online car purchase inIndia by making Customersamprsquo purchase journey more Simpler Faster convenient yet experientialamprdquo

The aim of Online booking is to provide an easy virtual experience of brand Hyundai to the customers Through the new portalcustomers will now be able to book any of their favourite Hyundai car by registering and paying a token booking amount online totheir preferred dealership without visiting the dealership

The online booking will commence from May 2 2017 and will be available on Hyundai Corporate and Mobile websitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-cars-can-now-be-booked-online58475780Hyundai starts online booking of cars in IndiaAsian Age (Web Edition)httpwwwasianagecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai starts online booking of cars in IndiaDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos020517hyundai-starts-online-booking-of-cars-in-indiahtmlHyundai eyes 10 of India sales through digital routeBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompanieshyundai-eyes-10-of-india-sales-through-digital-route-117050200939_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr AgenciesSee this story in The Hindu Business Line (Web Edition)

Shares of Maruti Suzuki India rose nearly 3 per cent adding Rs 5442 crore to its market valuation after the company posted a195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on the BSE During the day it jumped 313 per cent to Rs 6730ampmdashampmdash its 52-week high

On the NSE it went up by 276 per cent to close at Rs 670550

Led by the gains the companyamprsquos market valuation rose Rs 544232 crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (m-cap) mark and has become the countryamprsquos10th most valued firm

The countryamprsquos largest car maker Maruti Suzuki India had yesterday posted a 195 per cent jump in total sales at 151215units in April against 126569 units in the same month last year

Its domestic sales rose 234 per cent during the month to 144492 units compared with 117045 units in April 2016

Eicher Motors was up as much as 26 per cent to a record high after its total sales in April jumped 25 per cent

Tata Motors however was down as much as 17 per cent after posting a 21 per cent fall in total sales of passenger and commercialvehicles in Aprilhttpwwwthehindubusinesslinecommarketsstock-marketsmaruti-suzuki-eicher-motors-hit-record-higharticle9676266ece

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Maruti Suzuki hits new high post April sales m-cap crosses Rs 2 lakh crore Business Standard (Web Edition)

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

Top

Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

Top

Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

Top

5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

Top

Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

Top

Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

Top

Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

Top

E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

Top

SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 14: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Mumbai Maruti Suzuki India (MSIL) hit a new high of Rs 6700 up 27 on BSE in early morning trade after the company reporteda record monthly domestic sales of 144492 vehicles in April 2017 The company had sold 117045 vehicles in April 2016

All segments of vehicles except vans grew in double digits the mini segment (Alto and WagonR) grew by 22 the compactsegment (Swift Celerio Ignis Baleno and Dzire) by 39 and utility vehicle by 28

MSIL leader in the passenger vehicles sold a total of 151215 units in April 2017 195 more than the 126569 vehicles sold inApril 2016 the company said in a press release

The stock had gained 5 during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17)

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club

At 0920 am with the market capitalization (m-cap) of Rs 200554 crore MSIL stood behind fast moving consumer goods (FMCG)major Hindustan Unilever which had m-cap of Rs 202031 crore the BSE data showed

MSIL was trading 18 higher at Rs 6640 against 040 rise in the SampP BSE Sensex A combined 95012 equity sharesexchanged hands on the counter on BSE and NSEhttpwwwbusiness-standardcomarticlemarketsmaruti-suzuki-hits-new-high-post-april-sales-m-cap-crosses-rs-2-lakh-crore-117050200132_1html

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Skoda awaits a ride with Tata Motors Ajay ModiBusiness Standard

New Delhi Skoda the Czech car maker and part of the Volkswagen group is anticipating a push in its performance from 2019when new products developed jointly with Tata Motors roll out These products are targeted at emerging markets including India

ampldquoThese will be products with the Skoda brand character but developed with AsianIndian mindset in terms of ways ofdevelopment choice of materials and productivity levels and other strategies The combination of our learning combined with apartner (Tata Motors) who knows how to operate in India will make us extremely well placedamprdquo Sudhir Rao chairman andmanaging director at Skoda Auto India

Rao said the management and organisational culture is an aid to business performance and Tata Motors has learnt a lot from theJLR experience ampldquoSo it is a great partneramprdquo he added The structure of the association post the March deal is being putin place now

In March Tata Motors announced a partnership with German auto major Volkswagen under which it will work with Skoda to jointlydevelop vehicles targeted at emerging markets including India The duo will also look at joint development of components

Skoda which sells little over thousand passenger vehicles a month in India had seen volumes decline in recent few years It hasstarted showing growth since January ampldquoLast year was the trough of our performance In the January-March period of 2017we grew at 7-8 per cent We will grow at minimum 25 per cent this calendar yearamprdquo said Rao

Skoda which currently has 65 sales-service outlets is also upgrading the dealerships in line with its global identity Rao said thecompany is moving towards profitability and has managed to improve performance year after year ampldquoWe have streamlinedoperations reduced headcount in recent years rationalised product portfolio changed marketing strategy by taking away discountsand improved infrastructure at dealershipsamprdquo

The company believes there is a shift in consumer demand and given its positioning of amplsquovalue luxuryamprsquo more buyerscould opt for Skoda in future ampldquoTechnology space reliability and safety have remained our basis attributes and the buyershave appreciated theseamprdquo said Rao whose company has sold about 250000 cars in India since it started operations inNovember 2001httpwwwbusiness-standardcomarticlecompaniesskoda-awaits-a-ride-with-tata-motors-117050200452_1html

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Maruti shares up nearly 3 mcap surges by Rs 5442 cr PTISee this story in Daily News amp Analysis (Web Edition)

Shares of Maruti Suzuki India (MSI) today rose by nearly 3 per cent adding Rs 5442 crore to its market valuation after thecompany posted a 195 per cent jump in total sales for April 2017

The stock gained 276 per cent to end at Rs 670565 on BSE During the day it jumped 313 per cent to Rs 6730 --its 52-weekhigh

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

Top

Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

Top

Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

Top

Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

Top

Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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NURC News Update - AUTOMOBILES

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Page 15: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

On NSE it went up by 276 per cent to close at Rs 670550 Led by the gains the companys market valuation rose by Rs 544232crore to Rs 20256432 crore

With this the company surpassed the Rs 2 lakh crore market capitalisation (mcap) mark and has become the countrys 10th mostvalued firm

The countrys largest car maker Maruti Suzuki India (MSI) yesterday posted a 195 per cent jump in total sales at 151215 units inApril against 126569 units in the same month last year Its domestic sales rose 234 per cent during the month to 144492 unitsas compared to 117045 units in April 2016httpwwwdnaindiacommoneyreport-maruti-shares-up-nearly-3-mcap-surges-by-rs-5442-cr-2425048

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Maruti Suzuki crosses Rs2 trillion in market cap Ravindra N Sonavanemint (Web Edition)

Mumbai Indiaamprsquos largest automaker Maruti Suzuki India Ltd on Tuesday crossed Rs2 trillion market capitalization to becomefirst Indian carmaker to achieve this milestone

Shares of Maruti Suzuki closed at a record high of Rs6690 on BSE 252 from previous close with market capitalization of Rs202trillion So far this year it gained 26 Indiaamprsquos benchmark Sensex Index rose 001 to closed at 2992118 points

Earlier 19 Indian companies have crossed this landmark including Reliance Industries Ltd Tata Consultancy Services Ltd HDFCBank Ltd ITC Ltd Housing Development Corp Ltd State Bank of India Oil amp Natural Gas Corp Ltd Infosys Ltd Indian Oil CorpLtd Hindustan Unilever Ltd Coal India Ltd ICICI Bank Ltd Sun Pharmaceutical Industries Ltd Bharti Airtel Ltd NTPC Ltd WiproLtd NMDC Ltd DLF Ltd and MMTC Ltd However the value for the latter ten firms had fallen below this mark due correction in thestock prices

Currently Tata Consultancy Services is the Indiaamprsquos most valued company with market capitalization of Rs451 trillionfollowed by Reliance Industries and HDFC Bank with m-cap Rs446 trillion and Rs396 trillion respectively

Maruti is also the 12th largest auto company in the world in terms of market capitalization Its market cap is around 44 higherthan that of its parentampmdashJapanamprsquos Suzuki Motor Corp

On 27 April the company reported strong 16 growth in its March quarter on back of higher sales from its Baleno and VitaraBrezza models Its market share were inched up to 479 from 474 a year ago despite the demonetisation

Post earnings most of the foreign brokerage has maintained its buy rating on the stock and increased its target price CLSAincreased its target price to Rs7600 a share Macquarie Research maintained its outperform rating and increased its target price toRs6850 Deutsche Bank has maintained its buy rating and raised its target price to Rs7000 Nomura Research kept its buy ratingand hiked its target price by 175 to Rs7412 a share UBS Securities has buy rating with target price to Rs7300

ampldquoWe remain positive on Maruti as we expect strong volume growth in FY18-19 driven by implementation of the 7th PayCommission and a strong model cycle We expect valuation multiples to remain at the present level as Maruti has demonstrated itsability to keep up with the premiumization of car demand and has increased its market share in higher-priced segmentsamprdquosaid foreign brokerage firm UBS

The company recommended final dividend of Rs75 per share for 2016-17 more than double the Rs35 per share paid in theprevious year and it also modified its dividend policy to the range of 18-40 as against 18-30 in the past

ampldquoThe company to continue to outperform industry helped by its outstanding order book and strong model launch pipelineDespite the margin miss we believe it would be able to maintain margin at around 15 driven by lower discounts as share of newmodels increasesamprdquo wrote IIFL Institutional Equities in a report to its investors

Of the 54 brokerages covering the stock 41 have a ampldquobuyamprdquo rating on Maruti 10 have a ampldquoholdamprdquo rating whilethree have a ampldquosellamprdquo rating shows Bloomberg datahttpwwwlivemintcomMoney4nBwqrW2KSWfjUwYllk8QLMaruti-Suzuki-crosses-Rs2-trillion-in-market-caphtml

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Volkswagen T-Roc officially teased Deccan Chronicle (Web Edition)

Volkswagens upcoming compact SUV the T-Roc has been officially teased It is based on the T-Roc concept which wasshowcased at the 2014 Geneva Motor Show and was spied testing earlier this month with barely any camouflage

The pre-production prototype teased by VW gives us a clear glimpse of how its grille headlamps and tail lamps will look like Moreimportantly you get a hint of its silhouette which looks more flamboyant as opposed to the Tiguan courtesy its relatively raked rearwindscreen Its footprints look identical to the 2014 T-Roc concept Mechanically the T-Roc is expected to share its mechanicalswith the upcoming Polo (naturally aspiratedTSI petrol and TDI diesel engines) and the Golf (not available in India) as well

Although not confirmed to be launched in the Indian market yet we cannot rule out the T-Rocamprsquos possible introduction here

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

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Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 16: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

VW commenced the local production of the Tiguan with which the T-Roc shares its platform (MQB) in India recently So it would berelatively easy for VW to locally produce the T-Roc in the country

Further there are a lot of MQB based cars ampndash such as the Skoda Superb Octavia and more ampndash from VW Group alreadyproduced locally in the country along with a few upcoming ones in the pipeline as well (2018 VW Polo Skoda Kodiaq VW PassatAudi Q2 and others) If launched it will fall in the ever-growing mid-size SUVcrossover segment with vehicles such as theMahindra XUV500 and the upcoming Renault Captur (the Tata Hexa also falls in the same price band)httpwwwdeccanchroniclecombusinessautos020517volkswagen-t-roc-officially-teasedhtml

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5 cars launching in next three months Deccan Chronicle (Web Edition)

As you try to stay cool with the help of ACs and air-coolers in your room this summer lets take a look at the some of the cooldevelopments in the automotive world We have a list of cars that are likely to be launched in the coming months Lets check themout

1) Toyota Innova Crysta Touring Sport ampndash May 4The first to be launched next month is the Touring Sport version of the Toyota Innova Crysta The MPV is already selling in greatnumbers and the addition of a tourer trim is likely to amplify that further Based on the Indonesia-spec Venturer the vehicle lookssportier with revamped front and rear bumpers with side mouldings black-painted 16-inch alloy wheels rear license plate and frontgrille All these elements are given dark chrome garnishings to distinguish the Touring Sport from the stock Crysta The TouringSport will also feature the black leather upholstery unlike the dual-tone interiors in the present MPV

Mechanically it will continue to feature the same set of engines as its stock cousin The top-end variants of the Crysta are mostlikely to adorn the Touring Sport suit and the prices are expected to go up by Rs 30000-40000

2) Isuzu MU-X ampndash May 11Another addition to the pool of ladder-on-frame chassis utility vehicles of India the Isuzu MU-X will be launched on May 11 It willsucceed the discontinued MU-7 in the country Based on the Isuzu D-Max V-Cross the SUV is likely to garner good responsegiven the popularity of the lifestyle pickup in India Internationally it comes with two engine options ampndash a 19-litre Ddi(150PS350NM) and a 30-litre Ddi (177PS 380Nm) diesel motor Here the Japanese carmaker is likely to introduce only the highercapacity engine The SUV will be linked to either a six-speed manual or an automatic transmission Both the drivetrains - therear-wheel and the four-wheel drive ampndash are likely to be offered in the Indian version It will be locking horns with thesegment-king Toyota Fortuner and the Ford Endeavour

3) Maruti Suzuki Dzire ampndash May 16Undoubtedly the most awaited car of the year the Maruti Suzuki Dzire will be launching on May 16 Unveiled on April 24 2017 thecompact sedan for the first time will be coming ahead of its hatchback cousin the Swift Moreover to establish its identity the newDzire even drops the Swift label from its name The third-generation model features revolutionary changes inside out The front nowgets a bigger grille with chrome slats new fog lamp housing LED DRLs projector headlamps and rear LED elements Someconvenience features added in the cabin include rear AC vents climate control reverse parking camera and a touchscreeninfotainment system with Apple CarPlay Android Auto Mirror link and navigation support

Moreover it gets more room inside the cabin with increased width You can check in detail what all has changed in the new Dzirehere

4) 2017 Chevrolet Beat - JuneGeneral Motors is finally in news and this time itamprsquos good The new version of the Chevrolet Beat is all set to make way toshowrooms across the country in June The Beat has been one of the most successful products in the companyamprsquos Indialine-up The 2017 Beat looks more stylish and more value for money this time around The funky style of the current Beat makesway for a more matured design with the new trademark Chevy grille a new headlamp unit reworked bumper and a refreshed frontprofile Most of its updated parts resemble that of the Beat Essentia sedan Additionally it features Chevroletamprsquos MyLinkinfotainment system (probably a seven-inch unit) which supports both Apple CarPlay and Android Auto connectivity along withvoice commands

Under the hood details are likely to remain unchanged However Chevy might tune the motors for increased efficiency andperformance

5) Jeep Compass - JulyJoining the SUV bandwagon the Jeep Compass will be launched in India in July 2017 Touted as Jeepamprsquos global compactSUV the vehicle goes into production in June and will be offered in both the engine options - a 2-litre diesel and a 14-litre Multiairpetrol engine While the former makes power of over 170PS with 350Nm of torque the latter pumps out 162PS of power and250Nm of torque Traditionally a front-wheel drive the Jeep Compass will also be available in a 4-wheel drive option It is likely tofeature the carmakeramprsquos highly acknowledged Selec-Terrain mechanism which offers four drive modes ampndash Snow AutoSand and Mudhttpwwwdeccanchroniclecombusinessautos0205175-cars-launching-in-next-three-monthshtml

Top

Maruti Suzuki stocks at new high m-cap crosses Rs2 lakh cr The Statesman (Delhi Print Edition)

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

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Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

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Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

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Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

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Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 17: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Mumbai Shares of Maruti Suzuki India hit a fresh all-time high of Rs 6700 in early trade on Tuesday after the countryamprsquoslargest car maker on Monday posted a 195 per cent jump in total sales for April at 151215 units against 126569 units sold in thesame month last year

Its domestic sales rose 234 per cent during the month to 144492 units from 117045 units sold in April 2016

Sales of mini segment cars including Alto and WagonR were up 219 per cent to 38897 units from 31906 units a year ago MSIsaid in a statement

The scrip was trading 209 per cent higher at Rs 6660 at around 935 am (IST) The stock opened at Rs 6674 and touched a highand low of Rs 6700 and Rs 6625 respectively within the first hour of trade

Benchmark BSE Sensex rose 128 points or 043 per cent to 30046 in the same time

Top

Drive safe drive healthy S M UmairThe Hindu

Doing distances by car seems to be adding to our health woes We carry work pressure on our drive to work and on the way homeA number of people sit for more than an hour in traffic often using the clutch that puts a strain on joints and muscles and an evenlarger number inhale the polluted air that envelops our cities Here are a few precautions to make our drives as healthy andstress-free as possible

Sit the right wayAn incorrect driving posture has repercussions beyond an ache here and soreness there it ups the risk for accidents The BritishOsteopathic Association in a study found that 13 of drivers sat too far back in the seat for their seatbelt to be effective in ahead-on collision 14 sat too close to the steering wheel which meant a chest injury when an airbag got deployed 15 did notadjust their headrest to the optimal level

Mahesh Rajoria Senior Advisor Driving Training Maruti Suzuki India Ltd says ampldquoThe right posture allows easy access to allthe vehicle controls a good view of the panel display and of the road around the vehicle

When your hands are on the steering wheel at a 9 oamprsquoclock-3 oamprsquoclock position elbows should be slightly bent and yourshoulders should not be pushed up or hunched overamprdquo he says This will make sure youamprsquore not too close to thesteering wheel

Another way of ensuring this is to push down completely on the clutch ampmdash your knee should still be slightly bent when you dothis

ampldquoThis enables the leg to act as a shock absorber putting less strain on the knee Also ensure that the hips are slightly higherthan the knees when in seated position This enables the seat to support the curvature of our spineamprdquo says Dr AmandeepSingh consultant orthopaedic surgeon Apollo Clinic Delhi

ampldquoThe head rest is not a resting place for your head but is a head movement restraint in the event of a collision with your carfrom the rearamprdquo says Rajoria Adjust it so the top of the restraint is aligned with the top of your head Similarly your seat beltshould run across the pelvis not across the stomach

Move even in trafficampldquoOur body is designed to move but in a car our movement is restricted If youamprsquore driving long distances pull overevery couple of hours take a short walk This is not only good for circulation but also keeps you alert Rotate legs hands wristsshoulders If the drive is over 30 minutes do the wrist hand and ankle rotations in your seatamprdquo says Dr Singh So nodonamprsquot try and do a straight six-hour drive to make good time

For those who are plagued with neck and back problems Dr Singh says that the moment you align the steering wheel correctly andget seating positions right niggling problems will sort themselves out If theyamprsquove been building up over the years see adoctor who may prescribe a special orthopaedic pillow

Eat but snack wiselyItamprsquos only natural to pick the easiest and least messy foods while on the move So biscuits and chips are often the go-tooptions These are often salt-heavy sugar-laden and transfat-bearing which in the long term leads to lifestyle diseases Insteadplan ahead

What could be done to stay healthy when you feel a bit hungry in your car ampldquoDo carry water in a glass with a straw soitamprsquos easy to drink along the way When the sun beats in we often mistake thirst for hunger and resort to an unhealthy snackButtermilk lemon water aam panna and wood apple (bael) juice are all good at this time of the year If you see a tendercoconut-water seller along the way do stop and rehydrateamprdquo says Prerna Arora Senior Dietician and Nutritionist KonsultApp Delhi

Popping in a few nuts is as easy as digging into chips so opt for healthy snacks Before you leave eat a banana so youamprsquorenot rushing home to grab the closest available food on the counterhttpwwwthehinducomtodays-papertp-featurestp-metroplusdrive-safe-drive-healthyarticle18345833ece

Top

Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

Top

Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

Top

Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

Top

CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

Top

Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

Top

Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

Top

23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

Top

TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

Top

HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

Top

Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 18: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Top

Luxury Cars

Audi loses number 2 spot to BMW Pankaj DovalThe Times of India (Delhi Print Edition)

New Delhi Audiamprsquos sales in India crashed by over 30 in 2016 as the company lost its second ranking in the luxury market tofellow German compatriot BMW which staged a revival on a 14 growth Mercedes Benz however maintained its top billing in thecategory

Slide for Audi continued in the first quarter (JanuaryMarch) of this year as numbers slipped by 22 year-on-year Its volumes fell to2131units as against 2738 units in the same period last year sources told TOI

When contacted Rahil Ansari head of Audi in India refused to confirm the numbers but conceded that 2016 ampldquowas achallenging yearamprdquo

ampldquoAlthough 2016 was a chal- lenging year in general for the industry we utilized this period to consolidate our business inIndiaamprdquo Ansari said adding that ampldquoWe do not discuss our sales data in media However we can confirm that we had agood start to the year (2017) We are ahead of our planned targets and expect to close the year with double-digit growthamprdquo

Ansari took charge of Audiamprsquos Indian unit in February this year succeeding Joe King who was moved back to thecompanyamprsquos headquarters in Germany ampldquoWe want to be at the top spot as we belong there We do not have to do itovernight but in a sustainable manner ampmdash when we reach the top we will stay thereamprdquo Ansari said

Sources said the slide in Audiamprsquos volumes was being seen as Units Sold In 2016 Mercedes ampldquoworrisomeamprdquo by thecompanyamprsquos management considering that it was top luxury carmaker in India just two years back

BMW on the other hand has been making a slow progress towards getting its mojo back in India Once a strong force thecompany had lost its drive over the past few ye- ars It made a comeback in 2016 ampmdash although on a small base ampmdashgiving it a reason to cheer

BMWamprsquos revival was led by Frank Schloeder who was the acting president of the India operations last year ampldquo2016 hasnot been an easy year for the automotive industry and that applies equally to BMW Group Indiaamphellip Despite a challengingbusiness environment BMW Group India has increased sales and market shareamprdquo Schloeder now posted out of India saidon the companyamprsquos performance

Ansari said India is a ampldquosmall but strategic marketamprdquo ampldquoThere are short-term constraints like high taxes and dutiesbut the GST regime seems to offer a simpler approach with fewer layers which will probably make easier to do businessamprdquo

Top

Commercial Vehicles

Ashok Leyland sales decline by 30 in April 2017 sells 7083 units The Economic Times (Web Edition)

New Delhi Indian commercial vehicle manufacturer Ashok Leyland registers a sales decline by 30 as the company sold a total of7083 units in April 2017 The company had sold 10182 units in April 2016 as reported in a BSE filing

Sales of medium and heavy commercial vehicles (MampHCV) saw a total units sales of 4525 units last month as compared to 7873units in April 2017 declining by 43

Also read BS-IV is not going to hamper growth in CV sector Baba Kalyani Bharat Forge

Light commercial vehicles (LCVs) sales grew by 11 as Ashok Leyland sold 2558 units in April 2017 as against 2309 units samemonth last last yearhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvashok-leyland-sales-decline-by-30-in-april-2017-sells-7083-units58472104

Top

Tata Motors Ashok Leyland rev up exports to Asian African markets G BalachandarThe Hindu Business Line (Web amp Print Edition)

Chennai Home-grown commercial vehicle makers Tata Motors and Ashok Leyland (AL) are gaining strong sales momentum in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

Top

CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

Top

Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 19: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Asian and African markets

Cost-conscious markets in Asia and Africa favour low-budget vehicles as they focus on basic reliability than features Also emissionnorms in these markets are equivalent of BS-III or earlier These factors suit Indian companies which are aggressively ramping uptheir presence Binaifer F Jehani Director Industry amp Customised Research Crisil Research pointed out that such features make aperfect fit for Indian companiesamprsquo to target such markets using the expertise they gain in the domestic market

Growing volumesIn the last two years CV exports have been clocking more than one lakh units per annum The interesting feature is the growingshare of big trucks and buses (medium and heavy duty)

Three years ago export volume of medium and heavy duty vehicles was little less than a third of overall CV exports But its sharegrew to 40 per cent in total CV exports in 2016-17

In 2016-17 Tata Motors exported close to 60000 units its highest ever number Light vehicles accounted for about 60 per centwhile the remaining were medium and heavy vehicles The company sells its trucks and buses in about 45 countries Its targeting aCAGR of 15 per cent in exports over the next four years

Hinduja flagship Ashok Leyland grew medium and heavy truck volumes to 6102 units from 4816 units in 2015-16 It also exported4877 buses during the last fiscal

Anuj Kathuria President ampndash Global Trucks Ashok Leyland said that the company saw huge growth opportunities in East AsiaWest Asiast and African markets AL aims to sell one vehicle outside India for every two vehicles it sells in the domestic marketNow about 12-14 per cent of the total sales are outside the country

Both Tata and AL are setting up assembly units as well as distribution infrastructure in some countries Also both companies arelikely to resort to exports of the unsold BS-III inventory which can no longer be sold in India after the Supreme Courtamprsquos banon registration of BS-III vehicles from April 1 in India

ampldquoStrong presence in the export markets are expected to save the Indian companies from incurring additional costs inrefurbishing the BS-III vehicles into BS-IVamprdquo felt Jehanihttpwwwthehindubusinesslinecomtodays-papertp-newstata-motors-ashok-leyland-rev-up-exports-to-asian-african-marketsarticle9677476ece

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CV sales drop in April after SC order banning sale of BS-III vehicles T E NarasimhanBusiness Standard

Chennai The Supreme Courts order restricting OEMs from selling BS-III vehicles has taken a toll on commercial vehicle sales inthe country during the month of April as all OEMs have reported a significant drop

Tata Motors domestic commercial vehicles sales in April 2017 stood at 16017 units lower by 36 per cent over April 2016 This isan unusual decline under exceptional circumstances said the company

Commercial vehicles were affected by the Supreme Court judgment announced on March 29 with the ban on BS-III vehiclesleading to the need for a higher quantity of BS-IV stock for April sales

The higher demand at short notice was not matched by production especially in the MHCV segments Moreover after the strongpre-buying of BS-III vehicles in March and the price increase of BS-IV vehicles (especially in MHCVs and buses at 8-10 per cent)demand for BS-IV vehicles was also weak said the company

Ashok Leyland Ltd has reported a 30 per cent fall in its overall sales in April the steepest in seven months

The Hinduja Groups flagship company and countrys second-largest commercial vehicle manufacturer sold 7083 units in April 2017as against 10182 units a year ago Analysts had estimated Ashok Leyland would sell 7500 -7700 units in March

Sales of medium and heavy commercial vehicles declined 43 per cent to 4525 units compared with 7873 units a year ago Lightcommercial vehicle sales were up about 11 per cent in April to 2558 units from 2309 units in the year-ago period

The companys management said that it has an inventory of around 10000 units and will retrofit its older BS-III vehicles with newtechnology to meet the Supreme Court directive

VE Commercial Vehicles on Tuesday reported a 424 per cent decline in total sales at 3089 units for April The company a jointventure between Swedens Volvo Group and Eicher Motors had sold 5365 units in the same period last year

Mahindra amp Mahindra (MampM) sold 278 medium and heavy commercial vehicles units as against 472 units a drop of 41 per cent

Crisil Research estimates the impact of this on the standalone ebidta margins of listed truck makers such as Ashok Leyland andTata Motors equivalent to 25 per cent of their revenues The impact would be staggered across fiscals 2017 and 2018 because theunsold inventory will have to be brought back from dealerships and then be dealt with

It may be recalled that automakers mainly in the two-wheeler and CV segments offered huge discounts to clear stocks

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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Page 20: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Earlier SIAMs President and Ashok Leyland MD Vinod K Dasari had estimated that impact for the industry would be in the range ofaround Rs 20000 crore While 90-95 per cent of two-wheelers stocks were sold before March 31 CV makers could sell only 10-15per cent

Rajan Wadhera president automotive sector MampM said the company is hopeful that the new fiscal will bring in positive sentimentsfor the automotive industry with key demand drivers in places

The ongoing infrastructure development initiatives the outlook for a normal monsoon and the expectation of a stable policyenvironment will fuel growth in the coming days he addedhttpwwwbusiness-standardcomarticlecompaniescv-sales-drops-in-april-after-sc-s-order-banning-sale-of-bs-iii-vehicles-117050200497_1html

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Construction amp Agri Machinery

Escorts appoints Amanppreet Singh Bhatia as Group HR Head PTISee this story in The Economic Times

Mumbai Farm equipment and engineering firm Escorts today said it has appointed Amanppreet Singh Bhatia as the Group HumanResource Head

Bhatia has over 25 years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space

At Escorts he will focus on organisational transformation and human resource strategic roadmap to build a strong employerbrand the company said in a statementhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-appoints-amanppreet-singh-bhatia-as-group-hr-head58469796

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Tractors sells 25081 units in India during April 2017 says Mahindra The Economic Times

Pune Mahindra amp Mahindra Ltdamprsquos Farm Equipment Sector (FES) a part of the USD 178 billion Mahindra Group todayannounced its tractor sales numbers for April 2017

Domestic sales in April 2017 were at 25081 units as against 20704 units during April 2016 Total tractor sales (domestic +exports) during April 2017 were at 26001 units as against 21386 units for the same period last year Exports for the month stoodat 920 units

Commenting on the monthamprsquos performance Rajesh Jejurikar President - Farm Equipment Sector Mahindra amp Mahindra Ltdsaid ampldquoWe have sold 25081 tractors in the domestic market during April 2017 a growth of 21 over last year We expect thatthe prediction of a normal monsoon coupled with the expectation of good rabi crop will boost tractor demand in the coming monthsIn the exports market we sold 920 tractors a growth of 35 over April 2016amprdquohttpeconomictimesindiatimescomindustryautonewsindustrytractors-sells-25081-units-in-india-during-april-2017-says-mahindraarticleshow58473273cms

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23 Wheelers

Smooth ride for two-wheeler makers The Hindu Business Line

New Delhi After taking a hit on ban of BS-III vehicles two-wheeler companies except the countryamprsquos top manufacturer HeroMotoCorp have reported positive sales numbers during April

The grand total of sales has already crossed by more than 40000 to 1512 lakh units in April compared with 1471 lakh units inMarch

While Hero MotoCorp reported a fall in sales by 4 per cent year-on-year (YoY) to 591 lakh units in April (against 612 lakh units inApril 2016) rival Honda Motorcycle amp Scooter has reported record sales of around 552 lakh units in April compared with 414 lakhunits in April last year

This has narrowed the gap between Hero and Honda and according to analysts Hero has to work hard to widen that gap

On top of that Hero MotoCorp has also announced a hike in prices ampndash ranging from Rs 500 to Rs 2200 ampndash across

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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NURC News Update - AUTOMOBILES

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Page 21: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

different models to partially offset the commodity cost increases effective from May 1 With the ongoing marriage season thecompany expects to maintain the trend of robust retail sales in May

Meanwhile Yadvinder Singh Guleria Senior Vice-President Sales and Marketing Honda Motorcycle and Scooter India said thisAprilamprsquos results mark a ampldquogreat entry for Honda into the new financial yearamprdquo

The companyamprsquos increased sales by 33 per cent are for the first time ever in a month he said adding that ampldquonot onlydomestic but exports of Honda 2Wheelers India also saw a jump of close to 60 per cent over April 2016amprdquohttpwwwthehindubusinesslinecomtodays-papertp-newssmooth-ride-for-twowheeler-makersarticle9677475ece

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TVS two-wheelers domestic sales up by 4 in April 2017 The Economic Times

New Delhi Indian two-wheeler manufacturer TVS Motor Company in the domestic market a total of 205522 units of itstwo-wheelers registering a 4 growth The company had sold 197692 units of two-wheelers in the same month last year

Overall the company posted a sales growth of 8 during the month of April 2017 Company registered a total sales of 246310units in April 2017 as against 227096 units sold in April 2016

Total two-wheeler sales increased by 84 from 222350 units recorded in April 2016 to 241007 units in April 2017

TVS Scooters dominated companyamprsquos sale chart as the segment grew by 286 increasing from 63341 units in April 2016 to81443 units in April 2017 Motorcycles sales grew by 104 as the company sold 99890 units last month

Two-wheeler exports grew by 439 increasing from 24658 units in April 2016 to 35485 units in April 2017

TVS Motorsamprsquo three-wheeler business posted a 117 growth as the company sold 5303 units in April 2017 as compared to4746 units April 2016httpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclestvs-two-wheelers-domestic-sales-up-by-4-in-april-201758478535TVS Motor posts 84 growth in April salesThe Times of Indiahttptimesofindiaindiatimescombusinessindia-businesstvs-motor-posts-8-4-growth-in-april-salesarticleshow58480161cms

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HMSI inches closer to Hero MotoCorp reports 34 growth in April 2017 The Economic Times

Gurugram Indian arm of the Japanese two-wheeler manufacturer Honda Motorcycle amp Scooter India (HMSI) has registered anoverall growth of 34 by selling 578929 units in April 2017 as against 431065 units in April 2016

The sales difference between the market leader Hero MotoCorp and HMSI have come down to just 12377 units and if sources areto be believed then this is the first time ever that HMSI have come so close to the market leader Hero Motocorp sold a total of591306 units in April 2017

In the domestic market HMSI sold 551884 units last month as compared to 414035 units in April 2016 This is the first time thecompany has sold over 55 lakh units

Scooters led by Honda Activa dominated HMSIamprsquos sales chart as the company sold 368618 scooters reporting 40 jumpover April 2016 Motorcycles sales in the domestic market clocked 183266 unit

Speaking on the sales in April 2017 Yadvinder Singh Guleria Senior Vice President - Sales and Marketing HMSI says ampldquoApril2017 results mark a great entry for Honda into the new financial year Honda sold a total of 578929 two-wheelers with phenomenal34 growth on the back of customer demand for Hondaamprsquos upgraded BS-IV portfolio In the domestic market Hondatwo-wheeler sales increased 33 to all time high of 551884 units with over 30 market share (33) for the first time everamprdquo

ampldquoWithin segments automatic scooter sales led the momentum with 40 growth to cross 35 lac mark for first time ever(368618 units) while motorcycles sales recorded robust 22 growth Not only domestic but exports of Honda 2Wheelers India alsosaw a jump of close to 60 over April 2016amprdquo He added

HMSI exported 27045 units to its export market last monthhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedshmsi-inches-closer-to-hero-motocorp-reports-34-growth-in-april-201758474931Honda Motorcycle sales jump 34The Hindu Business Linehttpwwwthehindubusinesslinecomcompanieshonda-motorcycle-sales-jump-34article9676504eceHMSI report increase in bike sales in AprilAsian Agehttpwwwasianagecombusinesscompanies020517hmsi-report-increase-in-bike-sales-in-aprilhtml

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Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

Top

E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

Top

Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

Top

Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

Top

International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 22: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Suzuki Motorcycles rolls out its three millionth unit from Gurgaon plant The Economic Times

New Delhi India arm of Japanese two-wheeler manufacturer Suzuki Motorcycle India has rolled out its third millionth vehicles at itsplant in Gurgaon the company said in a press release

It has taken Suzuki Motorcycles India 11 years and three months to reach this milestone The company commenced production inIndia in February 2006

The milestone vehicle was rolled out on Monday April 17th 2017

The company regarded the success of Gixxer series and the Suzuki Access 125 along with the other models in scooter and big bikesegments have paved the way for this milestone

Suzuki claims to have extended its market presence through increased customer outreach and inauguration of new dealerships inIndia as well as by exporting vehicles to the overseas market Current production capacity at its plant is 540000 units per annumand the company aims to further increase its production volume to raise its operational benchmarks

Speaking about this milestone Satoshi Uchida Managing Director SMIPL said ampldquoWe are delighted to have achieved thisremarkable feat which stands as a testament to the continued customer confidence and support amp dedication of our employeesdealers and suppliers Our vehicles have gained immense popularity by fulfilling our commitment to quality across markets Wehave witnessed a rapid growth since the past few years and we are confident about further reinforcing our position in themarketamprdquohttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-rolls-out-its-third-millionth-unit-in-india58476526Suzuki Motorcycle India reports rise in domestic salesAsian Agehttpwwwasianagecombusinesscompanies020517suzuki-motorcycle-india-reports-rise-in-domestic-saleshtml

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Suzuki Motorcycles sells 36289 units in April 2017 The Economic Times

New Delhi Suzuki Motorcycle India has registered a 43 increase in its domestic sales by selling 36289 units in April 2017 Thecompany had sold 25343 units in April 2016 the company said in a media statement

Suzukis exports from India has gone up from 5290 units from the previous calendar year to 7535 units this April Cumulatively thecompany has recorded a sustained growth in its overall sales from 30648 units in April 2016 to 43842 units in April 2017

Suzuki Motorcycles has crossed a cumulative sales of 3-million-unit since 2006 and claims to have sustained double digit growth insaleshttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclessuzuki-motorcycles-sells-36289-units-in-april-201758476191Suzuki Motorcycle domestic sales rise 43 in AprilminthttpwwwlivemintcomCompaniesklNYwRUDrdN05iCfLg6phISuzuki-Motorcycle-domestic-sales-rise-43-in-Aprilhtml

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Honda closing in on Hero gap down to 12300 in April Ajay ModiBusiness Standard

New Delhi The leadership gap between Hero MotoCorp and former partner Honda in the worldamprsquos biggest two-wheelermarket is close and the Japanese challenger has come within a striking distance

Honda in April sold a record 579000 two-wheelers 12300 less than market leader Hero The numbers include small exportvolumes

Heroamprsquos sales to dealers declined by three per cent in April as Hondaamprsquos sales grew 34 per cent owing to a 40 per centsurge in scooter sales Heroamprsquos production has been affected by component supplies and the company is trying to resolve theissue Hero did not comment because it was in the silent period before announcement of its results

Honda said many of its dealerships were left with little inventory at the end of March when they cleared stocks of BS-III vehiclesThis supported the high April sales

Y S Guleria senior vice-president sales and marketing Honda Motorcycle and Scooter said after July by when it would haveexpanded its scooter plant in Gujarat the company could repeat such sales if market conditions remained the same

Honda has set itself a target of selling six million two-wheelers in 2017-18 20 per cent more than a year ago Hero last year sold 66million and this is expected to rise because of a normal monsoon and new vehicle launches

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 23: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

ampldquoThere is a sustained expansion in scooter demand The rural outlook has improved and macroeconomic factors arestrongamprdquo said Guleria Over 63 per cent of Hondaamprsquos two-wheeler sales in April were scooters

Hero and Honda dissolved their 26-year partnership in March 2011 and Heroamprsquos journey since has been marked by higherprofitability but declining market share a function of its overdependence on motorcycles Against flat growth in motorcycle salesscooter sales have been climbing in the double digits for three years benefiting Honda

Scooters formed 32 per cent of the 1758 million two-wheeler market in India in 2016-17 Motorcycles have a 63 per cent share andmopeds five per cent

Hero dominates the motorcycle market with a 51 per cent share Honda leads in scooters with 57 per centhttpwwwbusiness-standardcomarticlecompanieshonda-closing-in-on-hero-gap-down-to-12-300-in-april-117050200979_1html

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Upcoming scooters in India in 2017 The Financial Express

The sale of scooters in India have grown stupendously in the recent past and the two-wheeler makers in the country are alsogearing up for launch of both updated and all-new models in India Gear-less operation of the scooters makes it convenient for adaily commute in cities which inadvertently have traffic jams and slow moving traffic This year will also witness a new and upgradedversion from TVS in their 125 cc scooter model lineup that will compete with the likes of the Honda Activa 125 Other manufacturerswill also launch their respective vehicles in order to boost sales Here is a list of some of the expected upcoming scooters in India in2017 with their specification features as well as expected price

TVS all-new 125 cc scooter

TVS Motor Company will launch an all-new 125 cc scooter in the country this year that will join the Jupiter Wego and Scooty Pep+in the companys portfolio It is expected that the two-wheeler maker will launch the new 125 cc scooter under the Jupiter brandAlthough TVS has not confirmed the expected launch date and other details like specifications but we expect the new scooter to belaunched this year itself The new scooter with 125 cc engine is expected to generate around 8 hp of power and 10 Nm of torquewhich will be paired to a CVT (Continuously Variable Transmission) unit

Bajaj Chetak

Bajaj Chetak is one of the best-selling and the most popular scooters in India since 1972 and the company is consideringrelaunching the new Chetak in India soon Before the company discontinued the Chetak it was powered by a 145 cc four-strokeengine that produced 75 hp of power and 107 Nm of torque The new Chetak is speculated to be launched in 2017 and will featurean all-new design language Information in terms of specifications and features is sketchy however we believe that the Chetak willget a front disc brake a conventional suspension setup for better ride quality and a host of utility spaces such as large under seatstorage front storage space and hooks under the seat Bajaj could also offer the scooter with premium seat upholstery and anumber of body colour options in both gloss and matte finish The new Chetak is expected to be powered by a 125 cc or a 150 ccfour-stroke air-cooled engine

Aprilia SR Motard 125

Piaggio has already launched the Aprilia SR 150 scooter in India and is expected to launch a new 125 cc scooter soon The newAprilia SR Motard is likely to be based on the SR 150 and will share its powertrain with the Vespas 125 cc scooter The new ApriliaSR 125 will be powered by a 125 cc air-cooled single-cylinder unit that is expected to deliver around 8 hp of power and 11 Nm oftorque The new scooter will feature sporty styling with a sharp front end along with new graphics The Aprilia SR 125 is expected tobe priced around Rs 65000 in India

Hero Dare

The new offering by Hero MotoCorp in India will be a new 125 cc scooter Dare that is expected to reach showrooms this year TheDare 125 is expected to be available with an air cooled four-stroke OHC engine that will produce about 911 hp and 95 Nm oftorque The new Dare is also expected to get LED DRLs (Daytime Running Lamps) and a LED tail lamp Other features expectedon the two-wheeler include a dual-tone body colour fully digital instrument cluster mobile charging socket telescopic forks andalloy wheels The new Hero Dare is speculated to be launched with a price tag of Rs 60000

Honda PCX 150

Honda Motorcycle and Scooter (HMSI)s 150 cc scooter the PCX 150 was showcased at the 2014 Auto Expo The new HondaPCX 150 has already been imported to India for RampD (Research and Development) purposes and is expected to be launched in thesecond half of 2017 The scooter is already available in the international markets that is powered by a 150 cc single-cylinderfuel-injected unit which produces 11 hp and 14 Nm of torque Besides this the PCX 150 will feature a modern design language withfairing on each side as well as the front The two-wheeler manufacturer might also equip the PCX 150 with LED turn indicators frontand rear disc brakes and a digital instrument console The new Honda PCX 150 when launched will be a premium offering by thecompany and is likely to be priced around Rs 90000 ex-showroom

Yamaha Nmax

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

Top

E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 24: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Yamaha showcased the new Nmax at the 2016 Auto Expo and it is already sold in the international markets The Yamaha Nmax ispowered by a 155 cc liquid cooled four-stroke SOHC engine that develops 151 hp of maximum power and 144 Nm of torque It isexpected to feature the companys Blue Core technology for improved fuel efficiency like other Yamaha scooters in India Yamahawill also equip the new Nmax with a blackened out headlamp digital instrument console LED turn indicators at the rear and anexternal fuel lid The international model gets ABS (Anti-lock Braking System) as standard however in India this safety featuremay be missed out The Yamaha Nmax is expected to be launched in India by the end of 2017 and is expected to be priced aroundRs 1 lakh (ex-showroom)

Piaggio Liberty

Piaggio currently sells its Vespa scooters in India and the new Piaggio Liberty will be the first scooter that is expected to be pricedlower than the Vespa models The Liberty sold internationally gets a 125 cc engine that also powers the Vespas 125 cc scooter inIndia The engine produces 10 hp of power and 11 Nm of torque which is paired to a CVT automatic gearbox with torque serverThe Liberty sold internationally features a single-channel ABS braking system under-seat storage compartment that can hold anopen face helmet and a front glove compartment The scooter has a low saddle height that will make it easy to ride for short ridersWhen launched in India the company might offer ABS as an option along with a host of accessories such as windscreen anti-theftsystem electronic alarm Piaggio sound system and more The new Liberty will also feature chrome finishes on the rear viewmirrors LED front lights analogue speedometer with digital fuel and distance indicatorshttpwwwfinancialexpresscomautobike-newsupcoming-scooters-in-india-in-2017650529

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E-Bikes

Components

Steel Strips Wheels April sales suffer due to BS IV volume adjustment The Economic Times

New Delhi Chandigarh based Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 1150 lakh in April 2017representing a year-on-year de-growth of 36 informed the company in a Bombay Stock Exchange (BSE) filing The company hasattributed this drop to the commercial vehicle volume adjustment for BS IV

In terms of value Steel Strips Wheels has achieved gross turnover of Rs 11573 crore in April 2017 as against Rs 12193 crore inApril 2016 there by recording drop of 5 Its net turnover stood at Rs 10214 crore down 68 percent

The passenger car segment de-grew by 5 percent in April 2017 with monthly inventory being brought down by the OEMs Thecompany is expecting high single digit growth in the segment in coming months

The commercial vehicle segment saw a drop of 28 percent in April 2017 due to BS IV migration issue which happened in March2017 The volume pickup is expected to normalise in Q2 added the component manufacturer

The tractor segment saw robust growth of 13 percent with presale starting to happen before the monsoon arrival Steel StripsWheels expects the Q1 of FY 17-18 to be in line with April 2017 in anticipation of normal monsoon

Two and three wheelers segment witnessed rebound post demonetisation and the company expects good double digit growth inthis sector in coming months on the back of volume surge from electric vehicles This segment grew by 11 percent in April 2017

Exports shipments were down 7 in April 2017 The exports are expected to claw back to growth trajectory in the financial year withaddition of new business segments in the form of commercial wheels and alloy wheelhttpautoeconomictimesindiatimescomnewsauto-componentssteel-strips-wheels-april-sales-suffer-due-to-bs-iv-volume-adjustment58471558

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Hero Group owned Rockman Industries opens its first office outside India The Economic Times

London New Delhi Hero Group owned auto components manufacturer Rockman Industries has opened its first office outsideIndia at UK for its composites subsidiary - Moldex informed the company in a statement released on Tuesday

The office is located in Silverstone home of Formula One in UK The new office will focus on expanding the carbon compositesbusiness by increasing market penetration especially in the USA and the European markets added the company

In early 2017 Rockman Industries acquired Moldex Composites a British-Indian carbon-composites design and manufacturing

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

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Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

Top

Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

Top

Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

Top

Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 25: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

company as a part of groupamprsquos diversification strategy

ampldquoWe expect carbon composites to account for about 10 of Rockmansamprsquo revenue in the next five years Besidesmotorsports and aerospace there is a global shift towards carbon fibre in the automobiles sector said Suman Kant MunjalChairman Managing Director Rockman Industries

At Rockman Industries we want to be at the forefront of this technology as it further penetrates different sectors includingautomotives The opening of the UK office is a step in that direction as it gives us access to the centre of motorsports inEuropeamprdquo

ampldquoAt Rockman Industries we are aiming to make inroads into the global carbon composites markets The opening of the UKoffice in Silverstone the home of UK motor racing showcases our commitment to lead this new technology sector Our team wouldbe targeting the European and the American markets through this officeamprdquo said Ujjwal Munjal Executive Director RockmanIndustrieshttpautoeconomictimesindiatimescomnewsauto-componentshero-group-owned-rockman-industries-opens-its-first-office-outside-india58473506Rockman targets US European marketsThe Tribunehttpwwwtribuneindiacomnewsbusinessnow-pay-rentals-with-sbi-card-on-redgirraffe401034html

Top

Changing job market Automation slams brakes on shop-floor jobs Ajay ModiBusiness Standard

New Delhi Ajay Kumar Jain the chairman of the Rs 300 crore-auto component manufacturing company PPAP opted to source 20robots when it commenced operations at its Bhiwadi plant three years ago That did away with the need to hire 60 additionalworkers

ampldquoOne robot can do three-crew shifts of eight hours daily without a break The upfront investment of Rs 20 lakh for such arobot can be recovered in three-four yearsamprdquo says Jain who supplies car parts to companies including Maruti Suzuki andHonda Cars The life of a robot is at least 10 years and one can run them for months without a stop he adds

Jainamprsquos company has 1700 workers and might have needed additional 150 had he not decided to get 50 robots for his fourunits

But cost is not the sole motivation behind automation ampldquoIf you want to reduce dependence on labour and eliminate variabilityin quality to serve the evolving needs of vehicle manufacturers you will have to automateamprdquo says Jain

Automobile a key manufacturing industry is among the leading job creators in the economy But the pace and nature of jobcreation is changing as manufacturing units of both component and vehicle makers move to automate The newer plants that havecome up in the last couple of years and those that are being set up will absorb less number of people than the older ones

American carmaker Fordamprsquos second Indian plant in Sanand Gujarat (inaugurated in 2015) has more than 500 robots most ofwhich operate in the body shop area By comparison its first plant at Chennai has just about a 100 robots

Car manufacturers say the number of jobs created in actual production process is significantly lower than the jobs created outsidethe plant in transportation financing insurance sales service maintenance petrol pumps spare parts and workshops and drivingof vehicles

ampldquoCreation of jobs inside factories should not be seen in isolation It is important to create cars that are affordable A growingcar population will continue to create jobs outsideamprdquo says R C Bhargava chairman at Maruti Suzuki

Bhargava says manufacturers are under pressure to enhance productivity and use lesser people to get more output ampldquoAhigher productivity will not lead to lower jobs if you look at it holistically Look at the economy of Japan It is highly automated andyet there is a shortage of manpoweramprdquo

At Maruti Suzuki the countryamprsquos largest carmaker with a 47 per cent share 2000 jobs were added at the two manufacturingunits last year (total count about 22000) as it produced more number of cars However its dealerships (including Nexa) hired about4800 sales staff last year taking the headcount to now 40000 The service workshops of Maruti hired about 8000 technicians lastyear and the total strength now stands at about 80000Sudhir Rao chairman amp managing director at brvbarkoda Auto India says thetrend of automation is going to gain pace ampldquoIt gets more feasible when your scale and volumes go up which is happening inIndia Newer plants will create relatively fewer jobs but they will still employ substantial number of peopleamprdquo says Rao

Rao explains earlier a plant meant to produce 100000 cars a year would typically employ 2000-2500 people But the newautomated plans may hire 10-15 per cent lower numbers ampldquoI donamprsquot see automation as a strong threat to employmentbut it will be foolish to deny that it is not a threat at allamprdquo says Rao Indian companies produced a record 379 millionpassenger vehicles and also a record near 20 million two-wheelers in FY17 India is the largest two-wheeler market and fifth biggestcar market globally

Auto component maker Sona Group plans to automate and install robots on all forging presses by 2018 ampldquoWe now have 17robots on forging lines and we plan to install and use another 15 robots in next two years We are shifting all machining lines withautomated loading and unloading technologyamprdquo says Vikram Verma executive director Sona BLW Precision Forgings Thecompany will spend Rs 8 crore in further automation In most cases automation also creates certain jobs as automated

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

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Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

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Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

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Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

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Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

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News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

Top

SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 26: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

manufacturing needs a certain degree of manual supervision and therefore a need for skilled operators

A series of unrest and strikes in the automobile industry at small and big companies rising wages year after year and the lack ofskilled workforce are also being seen as triggers to rising automation But entry of new multinational players like Kia Motors SAICand PSA among others will continue to create several thousands of jobs at the plants of vehicle makers and their componentsuppliers However their sales service network will lead to an addition in employmenthttpwwwbusiness-standardcomarticlecompanieschanging-job-market-automation-slams-brakes-on-shop-floor-jobs-117050201314_1html

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Allied Industries

Compulsory helmets for two-wheeler riders in Puducherry PTISee this story in The Economic Times

Puducherry Compulsory helmet rule for two wheeler riders in the union territory of Puducherry came into force today police saidTraffic police at various junctions fined first time offenders Rs 100

Motorcycles and scooters form a big chunk of vehicles in Puducherry

Traffic police had conducted several awareness programmes on the necessity to use helmets prior to implementation of the ruleChief Minister V Narayanasamy who participated in May Day celebrations organised by the ruling Congress in neighbouringKalapet today also explained the necessity to use helmets

He said helmets are essential to prevent loss of life in an accident and urged people to extend cooperation by observing the rulehttpautoeconomictimesindiatimescomnewsindustrycompulsory-helmets-for-two-wheeler-riders-in-puducherry58469611

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Large contingent of Indian engineering firms to participate in Dubai Automechanika Sutanuka GhosalThe Economic Times

Kolkata Seeking to become an active partner in UAEamprsquos plan for diversification into non-oil sectors following a sustainedperiod of subdued crude prices a large contingent of Indian engineering firms would reach out to the Middle East market forautomobile services industry during Dubaiamprsquos flagship show Automechanika on May 7 8 and 9

The apex body of engineering export organisations EEPC India would showcase Indiaamprsquos capabilities and clout in theautomobile services products at the Dubai Automechanika being attended by business and technology leaders from 138 countries

ampldquoWe can leverage Automechanika Dubai for accessing some of largest automotive markets including Saudi Arabia andIranamprdquo said EEPC India executive director and secretary Bhaskar Sarkar

He said India is considered to be the UAEamprsquos primary trade partner accounting for about 98 per cent of its total non-oil tradeIndia is also the largest importer of goods from the UAE buying 149 per cent of that countryamprsquos exports and about 87 percent of its re-exports India also ranks third among countries that export to the UAE accounting for 92 per cent of the total importsby the UAE

Automechanika Dubai is the best platform for the products equipment and services available for the automotive aftermarket in thewider Middle East region by bringing international manufacturers and suppliers together with regional distributors and buyers

UAEamprsquos economy is poised to start recovery in 2017-18 on the countryamprsquos strong balance sheet The UAE has beenmore proactive in terms of economic diversification than other GCC states and is therefore expected to cope relatively well with aprolonged period of low oil prices and to be one of the Gulfamprsquos best-performing economies in the coming years

The IMF said in a note recently that the growth of UAEamprsquos non-oil sector is expected to increase above 4 per cent in themedium term

ampldquoAs in the oil economy India would remain actively engaged in UAEamprsquos forays into the non-oil diversification aswellamprdquo the EEPC India executive director saidhttpautoeconomictimesindiatimescomnewsindustrylarge-contingent-of-indian-engineering-firms-to-participate-in-dubai-automechanika58473721

Top

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

Top

Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

Top

Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

Top

News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

Top

2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

Top

2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd

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Page 27: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Emissions Environment

Finance amp Insurance

Shriram Transport PT revised to Rs 995 JefferiesThe Financial Express

SHTF reported in line pre-provision operating profit but higher provision led to profit miss in Q4 GNPA rose Q-o-Q broadly asexpected Demonetisation impact is fading but upcoming GST implementation should weigh on CV credit demand in H1 Weexpect loan growth to improve in H2 Lower funding cost should support better NIM We lift FY18-19E EPS by 4-7 and PT to Rs995 Valuations appear reasonable but near term trigger appears missing

Shriram Transport (SHTF) reported Q4 PAT of Rs 149 billion (4y-o-y) below our Rs 309 billion estimate Pre-provision profit(PPOP) grew 64 y-o-y but credit cost at 57 (389 Q3) was ahead of our 41 estimate

AUM grew 8 y-o-y (ex CE 10 y-o-y) Disbursal fell 17 y-o-y (30 q-o-q new CV -39 y-o-y) SHTF expects loan to grow12-15 in FY18 SHTF expects good Rabi crop harvest to drive used CV credit demand in H1 and constructioninfra activity to driveCV loan demand in H2 SHTF is adding headcount (+18 q-o-q) to widen distribution and also boost loan growth

It also plans to double its revenue share partners to 1000 in FY18 in order to gain share from the informal segment SHTF reportedQ4 NIM of 697 (-20bps q-o-q) NIM was hit by income reversal of Rs 400 million SHTF expects lower funding costs to boostNIMs by 15-20bps in FY18 Q4 provision was Rs 91 billion (49 q-o-q) vs our Rs 65 billion estimated GNPA (120 dpd) rose to816 (Q3 66 150 dpd) Shift to 120 dpd NPA norm (from 150dpd) pushed GNPA up by ~100 bps and led to additional provisionof Rs 368 billion in Q4

Collections have improved in the last few months SHTF has recovered 45 of dues pertaining to assets (Rs 45 billion) on whichRBI dispensation was applied Collection in CE segment remains steady Management sees strong possibility of provision reversalin CE segment Demonetisation has hit disbursal and asset quality at SHTF but impact is fading faster than we expected We trimour FY18-19E AUM estimates by 3 but we also lift our near- and medium-term NIM estimates factoring lower funding cost

SHTF is trading at 19x FY18E BV (23x ABV) vs avgerage of 17x FY1 BV We revise our RI valuation based PT as factoring higherearnings and rollover to June 18 (March 18 earlier) Our new PT of Rs 995 implies 18x FY18E BV (23x ABV) Key risks slowdownin CV lower NIMs higher GNPAhttpwwwfinancialexpresscommarketshriram-transport-pt-revised-to-rs-995651591

Top

Oil Lubricants amp Alternative Fuels

Methanol-blended fuel answer to cut oil import bill reduce pollution IANSSee this story in The Economic Times

New Delhi Methanol-blended fuel could be the answer to the twin challenges of slashing Indias oil import bill while simultaneouslyreducing the countrys carbon-footprint VK Saraswat a member of the NITI Aayog that has succeeded the Planning Commissionhas said

We are working on how to structure the entire methanol economy in India In the last six months we have done a lot of work andcome up with a paper on the same Saraswat a member of the National Institution for Transforming India (NITI) Aayog told IANSin an interview

The former Defence Research and Development Organisation (DRDO) chief said there was a potential to blend up to 85 per centdomestically -produced methanol with petrol thus substantially reducing the nations oil import bill

In China and Israel he said 15 per cent methanol in petrol is a well-accepted norm

Saraswat said the feasibility study had indicated that methanol economy was a viable option as not only was methanol a cleanfuel but it can be produced from coal -- particularly poor quality coal with high ash content -- which is available in our country inlarge quantities

When methanol burns in the IC (internal combustion) engine it does not emit any particulate matter or sulphur dioxide or NOx Itproduces only carbon dioxide and steam

And you can convert carbon dioxide into methanol again So it becomes a carbon-neutral system So from the point of view ofpollution it is very clean and is the best option added Saraswat who wore the triple hats of Scientific Advisor to the DefenceMinister and Secretary Department of Defence (RampD) during his DRDO tenure

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

Top

Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

Top

Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

Top

News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

Top

2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 28: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

He added that even cost-wise methanol was comparable with other fuels being used at present

Hence we should try to convert that coal (high-ash content coal) into methanol and use it for production of energy whether formobility or electricity generation

Saraswat said that the project was a work in progress and may soon be a reality

Whenever you introduce an alternate fuel there are steps to be taken and those steps are being progressed today In our schemeof things priority would be first given to bulk users -- like railways and defence forces -- and then it would go to the commonconsumer as that would require a supply chain network

As for the vehicle engines Saraswat said minor modifications would be required and kits have already been developed by manycountries

Israel and China have already addressed the technological issues he said adding We just need to adopt them like we did in caseof CNG

Acknowledging that CNG could not become a large-scale phenomenon Saraswat said it was not because of technological issuesbut because supplies were not adequate

Thats why when we introduce methanol we want to ensure we have adequate supplies So we are looking at production storageand distribution We are also looking at conversion of engines -- who will do it and where it would be done

We are also bringing the manufacturers of diesel generator sets engines and energy devices into our discussions so that there is acomprehensive road map for introducing the system rather than doing it in bits and pieces he said

Saraswat added that instead of a piecemeal approach there should be a life-cycle approach so that the project yields the desiredresults

During his illustrious career Saraswat one of Indias most accomplished scientists and researchers was associated with thedevelopment of liquid propulsion rocket engines and missiles like the Prithvi Dhanush and Prahaarhttpautoeconomictimesindiatimescomnewsoil-and-lubesmethanol-blended-fuel-answer-to-cut-oil-import-bill-reduce-pollution58474649

Top

Oil rises as OPEC cuts outweigh higher output elsewhere ReutersSee this story in The Hindu Business Line

Tokyo Oil prices rose on Tuesday as expectations that major OPEC exporters would extend output cuts into the second half of theyear outweighed rising production in the United States Canada and Libya

Benchmark Brent crude oil was up 30 cents at $5182 a barrel by 0840 GMT The futures contract hit a one-month low of $5045last week after the restart of two Libyan oilfields US light crude was 20 cents higher at $4904

The Organization of the Petroleum Exporting Countries and several other key producers including Russia have agreed to cutoutput by 18 million barrels per day (bpd) for the first half of 2017 to try to reduce a global glut

OPEC and other producers meet on May 25 and are widely expected to keep output limits for the rest of the year

ampldquoThe second half of the year looks brighter provided OPEC remains at least as disciplined as during the first half of2017amprdquo said Tamas Varga analyst at London brokerage PVM Oil Associates

But oil market sentiment is fragile and many investors are concerned by the slow pace of inventory drawdowns with stockpiles stillnear record highs

Libyas National Oil Company had said on Monday production had risen above 760000 bpd to its highest since December 2014with plans to keep boosting production

US crude output is at its highest since August 2015 while the Syncrude Canada oil sands project has started shipping crude fromits Mildred Lake upgrader again after cutting production due to a fire in March

Oil prices found some support from data showing Russian oil output fell slightly to 11 million bpd in April from 1105 million bpd inMarch

But much of the news has been negative for oil

A private survey on Tuesday showed Chinas factory sector lost momentum in April with growth slowing to its weakest pace inseven months

US crude inventories are expected to mark a fourth straight week of declines from a record high hit at the end of March but stocksare still seen about 10 per cent above year-end levels according to Reuters calculations

US crude inventories likely fell 22 million barrels last week while refined product stockpiles were seen up a preliminary Reuters

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

Top

Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

Top

News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

Top

2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

Top

2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 29: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

poll showed

The American Petroleum Institute (API) an industry group is scheduled to release inventory data for the week to April 28 at 430pm EDT (2030 GMT) on Tuesdayhttpwwwthehindubusinesslinecommarketscommoditiesoil-edges-down-as-rising-output-stokes-concern-on-oversupplyarticle9675810ece

Top

Auto LPG registers about 5 growth in sales Shine JacobBusiness Standard

New Delhi The auto LPG sector in India closed the fiscal year 2016-17 with an encouraging sales growth of 49 per cent over thelast fiscal owing to a drop in prices

Meanwhile the sales volume growth was about 818 per cent in March 2017 as against March 2016 The auto LPG sales in Indiagrew to 346 TMT in 2016-17 as against 330 TMT in 2015-16 The factors that helped the industry to achieve this growth are thereduction in auto LPG price by leading oil companies such as Indian Oil HPCL and BPCL since October 2016 making the fuelabout 50 per cent cheaper than petrol Following this the sales jumped by 16 per cent in the period between October 1 2016 andDecember 31 2016

There is no doubt that auto LPG is the fuel for the future and that it is the solution to check the growing pollution levels in Indiancities We are positive about the growth in sales volume achieved this fiscal as it reflects the growing penetration of the fuel acrossthe country However we are hopeful of much more positive growth figure in the coming year as the GST regime rolls out bringingthe commercial and domestic LPG prices at par with each other said Suyash Gupta Director General of the Indian Auto LPGCoalition (IAC)

Auto LPG is a clean automotive fuel which is much cheaper than petrol diesel and comparable to CNG The current indirecttaxation regime makes auto LPG a less attractive option While there is zero custom and excise duty on domestic LPG and minimalVAT the same are cumulatively as high as 15-20 per cent on commercial LPG All this is set to change with the GST regime

With the GST regime the government has promised to bring both the commercial LPG and domestic LPG under a singular taxrate This will encourage users to turn to auto LPG At the same time both public and private sectors shall feel encouraged to investmore in the sector We are sure we will be looking at significantly impressive growth rates next year Gupta added Globally AutoLPG is the third most commonly used automotive fuel after Petrol and Diesel Over 26 million vehicles across 70 countries use AutoLPG to help clean their urban environmenthttpwwwbusiness-standardcomarticlecurrent-affairsauto-lpg-registers-about-5-growth-in-sales-117050200810_1html

Top

News Magazines

Hyundai opens centralised quality and training centre in Faridabad Autocar India

Hyundai Motor India Limited (HMIL) recently inaugurated its first centralised integrated quality and training centre in the countrylocated in Faridabad in the Delhi-NCR region It is the fifth such facility in Hyundai Motor Companyamprsquos global operations withthe other four locations being North America Europe Africa and China

The new facility spread over 72000 sq ft is a state-of-the-art multi-disciplinary unit which incorporates a Quality Centre TrainingCentre as well as Parts Quality Centre under the same roof

Hyundaiamprsquos vision in bringing together the three major cross-functional market quality operations was to also bring the IndiaQuality Centre (INQC) out of the companyamprsquos main manufacturing premises in Chennai This will enable Hyundai to cater tothe geographic challenges offered by the Indian sub-continent and improve product quality to achieve its target of buildingamplsquoZero Defectamprsquo products by understanding varied customer needs in different parts of the country

Speaking at the inauguration of the INQC facility Y K Koo MD and CEO HMIL said ampldquoWith the opening of India QualityCentre Hyundai Motor further aims to reinforce its commitment to unmatched quality with focus on zero-defect vehicles We willcontinue to focus on delivering top level of vehicle safety and bring innovative mobility solutions based on human-centriceco-friendly technologies and servicesamprdquo

According to Rakesh Srivastava director (Marketing and Sales) Hyundai Motor India ampldquoThe INQC will take lead in newprojects right from their pilot stage on amplsquoTop Level Safety Qualityamprsquo through proactive communications andunderstanding customer feedback to eliminate potential risks The centre will also significantly monitor aspects including vehicle

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

Top

Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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DirectorSapna KulshresthaMobile 9810975257

Production-in-ChargeS K MandalPhone 011-22626650

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 30: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

durability unexpected safety issues system and vehicle benchmarking and aid new model development right until the massproduction stageampldquo

The INQC along with the part centre will also be responsible for quality assurance for all the exports being done by the company inthe APAC region To further speed up problem response and countermeasure initiation times the facility also sees around 10vendors from Korea including PSC Valeo Doowan and Hala Visteon and has their representatives positioned inside its premisesto react to consumer complaints quickly

Training Centre to enhance staffer skillsThe integrated INQC which sees an investment of Rs 30 crore incorporates a world-class training centre equipped with anintegrated body and paint training shop as well which is the fifth regional centre to have such a setup in Hyundai Indiaamprsquostotal pool of six at the moment Two more are slated to become functional by the end of CY2017 and will come up in Guwahati andAhmedabad

Its second major division in the Faridabad facility the training centre will focus on imparting technical soft skills as well asmanagerial training to recruited associates to then work in different verticals at the dealer and workshop level

In line with the Skill India initiative and as part of its CSR activities the Korean carmaker has already started tying up with ITIs inevery state and aims to grow to 48 collaborations by the end of 2017 from the current number of 38 The initiative sees close to 95percent of the student population being roped in to work in various different entities in the Hyundai India ecosystem itself

In an effort to move a level up in the skill set of the talent pool it acquires the company is also associating with polytechnic collegesacross India for employment generation the first one having come up with PUSA in New Delhi

Hyundai says it views skill enhancement as a continuous process and a very important one for its future plans in the country as itgoes on to introduce eight new products along with new technologies like mild-hybrid AMT and turbocharged petrol engines in itsportfolio by the year 2021

The company which services around 53 lakh vehicles annually across its 1253 strong workshop network in the country aims togrow at 8 percent in FY2017-18 projecting a total sales number of 672000 units

It currently employs around 7300 technicians and 3300 service advisors and has switched nearly 220 of its service centres mosthaving service volumes of more than 400 cars a month to complete digital and paperless customer service and repair job initiationsystems utilising its GDS online interfacehttpwwwautocarindiacomauto-newshyundai-opens-centralised-quality-and-training-centre-in-faridabad-404818aspx

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2017 Renault Duster 15 petrol CVT launched Autocar India

Renault has updated its petrol-powered Duster for the Indian market The 2017 Duster petrol now comes with a new 106hp H4K15-litre motor instead of the 104hp 16-litre unit This new engine is available with a five-speed manual gearbox as well as a CVTautomatic Prices for the 2017 Duster 15 petrol start at Rs 849 lakh for the RxE manual version while the new RxS CVT automatictrim costs Rs 1032 lakh The model was already seen at many dealerships recently

Apart from the new engine Renault has also made equipment changes to the range The RxL manual and the RxS automatic nowcome with steering-mounted audio controls Eco mode electrically adjustable wing mirrors and a trip computer The RxL gets agearshift indicator and the CVT-equipped RxS variant gets a touchscreen infotainment system without sat-nav feature

With the introduction of this trim Renault looks to add more appeal to its slow-selling petrol Duster as buyers seem to prefer thediesel models The Duster petrol CVT will allow Renault to better rival the Hyundai Creta petrol automatic (123hp 16-litre) and theHonda BR-V (119hp 16-litre)

Renault has also added a mid-spec RxL trim with AMT to its diesel Duster line-up and it is priced Rs 1187 lakh (ex-showroomDelhi)httpwwwautocarindiacomauto-news2017-renault-duster-15-petrol-cvt-launched-404822aspx

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2017 Maruti Dzire vs rivals Specifications comparison Autocar India

Maruti has unveiled the third-gen Dzire which will be launched in India on May 16 The Dzire is one of Indiaamprsquos bestselling cars(in both its previous generations) and the company definitely wants to keep that momentum going for the new-generation Dzire aswell Built on Suzukiamprsquos new amplsquoHeartectamprsquo platform which it shares with the Baleno Ignis and theyet-to-be-launched new-gen Swift the new Dzire is considerably lighter than the car it replaces by 85kg and 105kg in the petrol anddiesel variants respectively The wheelbase is longer than before and rear occupants can expect much more space at the backEngines will continue to remain the same carrying the 12-litre K-series petrol and 13-litre DDis (diesel) and performance shouldbe better because of the new caramprsquos lighter kerb weight Both engines get single-clutch AMTs as well as manual gearboxesAlso on offer is a fair bit of kit with rear air con vents SmartPlay infotainment system with smartphone integration LED daytimerunning lamps LED projector headlamps auto climate control keyless entry and go all being part of the feature list

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

Top

Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

Top

New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

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Page 31: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

The Dzire will be available with eight variants ampndash LXiLDi VXiVDi ZXiZDi and ZXi+ZDi+

Read on to find out how the new Dzire matches up to its rivals on paper

The 2017 Dzire has grown a bit in size and while the length hasnamprsquot changed due to the four-metre cap it is wider thanbefore In fact the Dzire is now the widest car in its segment Also its wheelbase has increased by 20mm to 2450mm making itlonger than the Amaze and Xcent still shorter than the Ameoamprsquos and Aspireamprsquos 2470mm and 2491mm respectivelyIts height however has been reduced by 40mm and now stands at 1515mm More importantly the Dzireamprsquos boot is 376litres which is 60-litre larger than before Compared to cars like the Tigor (419 litre) Xcent (407 litre) and Amaze (400 litre) theDzireamprsquos boot is still small but is bigger than the Ameoamprsquos (330 litre) and Aspireamprsquos (359 litre)

Maruti is sticking to the same 13-litre MultiJet diesel engine and the 12-litre petrol for the Dzire The 13-litre diesel motor makes75hp and 190Nm while the petrol engine makes 83hp and 113Nm of torque Apart from the five-speed manual gearboxes on boththe engines with the new-gen Dzire the petrol engine also gets the AMT gearbox option (unlike the previous generation where onlythe diesel engine had AMT) The Dzire is expected to be 85-105kg lighter than the outgoing model and that could give it betterperformance and efficiency

In comparison the Hyundai Xcent has a 12-litre three-cylinder diesel motor that makes 75hp and 190Nm of torque The power andtorque output is similar to the Dzireamprsquos and even the 12-litre petrol motor makes quite similar power and torque outputsampndash 83hp and 114Nm Hyundai offers a four-speed torque converter autobox with the Xcent petrol but the diesel is onlyavailable with a five-speed manual gearbox

The Tata Zest uses the same Fiat-sourced 13-litre diesel motor as the Dzire Tata however offers this engine in two states of tunein the Zest ampndash 75hp and 190Nm and 90hp and 200Nm The lesser powered diesel motor is only available in the base XEvariant though The Zest also gets a 12-litre turbocharged petrol motor which makes 90hp and 140Nm of torque Apart from afive-speed manual box Tata also offers an AMT option on the diesel Zest

The Tigor has the smallest diesel motor of the lot at 104-litres and also makes the least power at 70hp and 140Nm Its 12-litrepetrol motor however makes 85hp and 114Nm of power which is quite up to segment norms Unlike the Zest the Tigor is currentlyoffered only with the option of a five-speed manual gearbox

Hondaamprsquos Amaze is powered by a 15-litre diesel motor that puts out 100hp and 200Nm of torque Thereamprsquos a petroloption too and like the others the capacity is similar at 12 litres with 88hp and 109Nm of torque Along with a five-speed manualgearbox thereamprsquos an option of a 7-step CVT (continuously variable transmission) on the petrol Amaze but the diesel isavailable with only a manual gearbox

It is the Ameo that has the most powerful diesel motor in this class its 15-litre diesel motor makes 105hp and 250Nm of torqueWhile Volkswagen has paired this motor with a five-speed manual you can also opt for a seven-speed dual-clutch automatic (DSG)gearbox Its three-cylinder petrol motor is the least powerful here at 75hp and 110Nm of torque

Fordamprsquos Figo Aspire offers two petrol engines ampndash a 12-litre and a 15-litre developing 88hp and 112hp respectivelyWhile the former engine option is mated to a five-speed manual transmission the latter is the only one in the range to offer a DCT(dual-clutch transmission) Aspireamprsquos oil burner option is a 15-litre TDCi engine developing 100hp and 215Nm respectivelyand only comes with a five-speed manual transmissionhttpwwwautocarindiacomauto-news2017-maruti-dzire-vs-rivals-specifications-comparison-404819aspx0

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Best new car discounts this month Autocar India

Buying a new car is always an exciting prospect and with a new month there are a host of new and exciting discounts on offer atdealerships across the country But before you walk into a dealership hereamprsquos a look at some of the best deals available onhatchbacks sedans SUVs and MPVs in the market right now Of course remember to bargain hard for the best discounts

Hatchbacks2016 Fiat Abarth PuntoSave up to Rs 1 lakhThis hot hatch from Fiat is now being offered with discounts and benefits of about Rs 1 lakh Its ride and handling are fantastic butits not as spacious as its rivals The Abarth Punto comes with a 14-litre turbo-petrol motor that delivers 145hp

Nissan MicraSave up to Rs 85000The peppy Nissan Micra now comes with benefits and offers amounting to Rs 85000 Now available only with a petrol-CVT layoutthe Micra is an ideal runabout for city use thanks to its light steering and compact dimensions The downside however is its belowaverage real-world fuel economy figures

Maruti Alto 800 Alto K10Save up to Rs 40000Marutiamprsquos entry-level model the popular Alto faces tough competition from the Renault Kwid and the Hyundai Eon Discountsand benefits of Rs 40000 are offered on both the 800 and the K10 models at all dealerships

Maruti Swift DieselSave up to Rs 35000The current-gen Swift has been on sale for a while now There are newer options in the same price bracket like the Ford Figo and

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

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2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

Top

International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

Top

Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

Top

Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 32: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

the Hyundai Grand i10 In order to keep sales going Maruti is offering benefits of around Rs 35000 on the diesel-powered Swiftacross all outlets

SedansMaruti Swift DzireSave up to Rs 35000The all-new Swift Dzire will launch later this month and dealers are currently trying to finish unsold stocks of the outgoing carDiscounts of Rs 35000 are on offer at most outlets depending on stock

Chevrolet CruzeSave up to Rs 1 lakhChevroletamprsquos contender in the executive sedan segment the Cruze has been on sale for a while and feels outdated nowDiscounts of around Rs 1 lakh are being offered on most variants The Cruze comes with a punchy diesel engine There is no petrolon offer

Honda AmazeSave up to Rs 50000Hondaamprsquos recently updated compact sedan is available with discounts and benefits of around Rs 50000 It comes with apetrol and a diesel engine option Automatic transmission is available on the petrol-powered variant

Volkswagen AmeoSave up to Rs 45000Volkswagenamprsquos newest model for India comes with high-quality materials a decent cabin and boot space two engine optionsalong with the high-tech DSG gearbox Benefits of around Rs 45000 are available on most variants across dealerships

SUVsMPVsRenault DusterSave up to Rs 75000The once-popular Renault Duster is available with discounts and benefits amounting to Rs 75000 Available with three engine andthree gearbox options the Duster rivals the Creta and the Terrano which received a mid-cycle update recently

Honda BR-VSave up to Rs 75000The BR-V is the only seven-seat contender in the popular midsize SUV segment that also includes the Creta and the Duster Itcomes with petrol and diesel engine options and a decent feature list as well Benefits of around Rs 75000 are being offered onselect variants depending on stock

Renault LodgySave up to Rs 65000The Renault Lodgy sits right in between the Maruti Ertiga on the lower end and the Toyota Innova on the top end of the MPVmarket It comes with a spacious cabin for six and has two power output options on its 15-litre K9K diesel engine Discounts ofaround Rs 65000 are being offered on the standard Lodgy and also on the rugged-looking Stepway variant at most dealerships

Maruti S-Cross 13Save up to Rs 20000Marutiamprsquos flagship offering the S-cross isnamprsquot really a popular choice in its segment Discounts and benefits amountingto Rs 20000 are being offered across most Nexa dealerships The S-cross 13 comes in four variants and is equipped with a13-litre diesel engine good for 89hphttpwwwautocarindiacomauto-newsbest-new-car-discounts-this-month-402189aspx0

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New Chevrolet Beat launch in July 2017 Autocar India

Chevrolet will launch the new Beat hatchback in India this July The carmaker had begun testing the Beat late last year Thesecond-gen Beat (likely to be called Intelli Beat) is a model separate from the all-new Chevrolet Spark unveiled globally and is anevolution of its predecessor

The new Beatamprsquos design is now more grown up and less edgy and is likely to appeal to more car buyers This second-gen carhowever continues to offer the passenger-door handle on the pillar ampndash a trend started by the first-gen Beat and is now seenthe Mahindra KUV100 and the next-gen Maruti Swift that will come to India in 2018

The second-gen Beat gets revised styling at the back with the number plate now on the bumper Also the tail-lamps are slightlylarger than that of the outgoing car and will feature LED inserts

The India-spec Beat will be joined by a rugged-looking Beat Activ cross-hatch and a Beat Essentia compact sedan soon after Thecarmaker had showcased the Beat Activ and the Essentia at the Auto Expo 2016 last year

The market launch of the new Beat was scheduled to take place earlier this year but has been delayed until July The compactsedan which was expected to be launched in March will now come to the market after the hatchbackhttpwwwautocarindiacomauto-newsnew-chevrolet-beat-launch-in-july-2017-404620aspx

Top

2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

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GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

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Page 33: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

2017 Renault Kwid 10 long term review first report Autocar India

The keys to the second Kwid in our long-term fleet have been handed over to the small car loyalist of the team ampndash me ThisOutback Bronze example replaces the fiery red Kwid we said goodbye to a few weeks ago Of course itamprsquos not just the colourthat distinguishes the Kwids old and new but also whatamprsquos under the bonnet This is the Kwid 10 with the larger 999ccengine While they do share some similarities from the outside the largish amplsquo10amprsquo badge and chequered decals on thedoor tell the world amplsquoIamprsquove made a move upamprsquo However I think these distinguishing details are a bit overdone andtacky a subtle amplsquo10amprsquo badge on the fender or on the boot lid wouldamprsquove been a classier touch The Kwid 10 alsogets silver mirror caps which are unique to this model

Having heard my colleagues ampndash who spent 45 days in the car covering 20000km on the Delhi to Paris drive ampndash talkabout the impact the larger engine has had on the Kwid I had a fair idea of what to expect They were right It really does feel likethe more sorted version of Renaultamprsquos blockbuster hatchback The older Kwidamprsquos 54hp 800cc engine was just okay Itwas whiny and the hesitant low-speed power delivery took away from the experience The new Kwidamprsquos 68hp 10-litre motoron the other hand has changed the caramprsquos character in a positive way Power delivery is much smoother and the engine isquieter too quieter being the operative word here That typical three-cylinder idling noise and vibrations still remain

Whatamprsquos instantly noticeable is that this car takes off faster than its 800cc cousin Our test data show that the more powerfulKwid is around 3sec quicker However having driven the Maruti Alto K10 (the one with the 10 engine) quite a few times I wouldrate its K10 engine higher Still the Kwid 10 is a huge step up from the 08 Thanks to the peppier engine this Kwid is actually funto punt around in city traffic The added performance has also brought in a degree of versatility to the Kwid Iamprsquom morecomfortable with the idea of taking this version out of town than I ever was with the Kwid 08

As for the rest of the car I like how absorbent the suspension is but I donamprsquot like the steering that feels a bit light at highspeeds The Kwid 10 is priced a paltry Rs 24000 more than the 08 but the fact is that this extra money is largely for the engineMy transition from the old Kwid to the new was fairly uneventful as there arenamprsquot any major changes in the cabin But thismeans you also get the same cool digital instruments and the all-important touchscreen The sat-nav works as it should and themaps are mostly accurate letamprsquos not forget this is the same system offered as standard on the Duster and the Lodgy bothwhich cost twice as much as the Kwid

What this also means is that I still find the control stalks a bit too flimsy as you often end up switching off the headlight when youtoggle the stalk to switch on the right turn indicator I would also have appreciated a rear washwipe function on this more expensiveKwid Shockingly itamprsquos not even an option on the top-spec car Also there is only a single front wiper being offered on a carthat costs almost Rs 5 lakh and thatamprsquos not good If Tata can offer all these features in the similarly priced Tiago whycanamprsquot Renault

The Kwid 10 is still quite new to our fleet so Iamprsquoll have to drive it around for some more time to get an accurate idea of theimpact this larger engine has on my running expenses But so far it points to a fuel economy similar to the 08 Kwid In either casethe extra 200cc has enhanced my drive home by a massive margin As a former Kwid 08 user I will stick my neck out to tell youthat the Kwid 10 is definitely worth the extra moneyhttpwwwautocarindiacomauto-reviews2017-renault-kwid-10-long-term-review-first-report-4048210aspx

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2017 BMW 740Li review test drive Autocar India

What is it

Itamprsquos a mid-range variant of BMWamprsquos flagship luxury limousine that caters to the growing demand for petrol-poweredcars Until now you could have your 7-series with either a 265hp 30-litre diesel (730Ld) or a 450hp 44-litre V8 petrol (750Li) butthis new 740Li is powered by a 30-litre inline-six petrol This makes it a great choice for the ever-growing number of people whodonamprsquot want a diesel but at the same time donamprsquot want to splurge on the full-fat V8 petrol And it would be quite asplurge since this is a CKD (Completely Knocked Down unit) assembled in India its price is a more reasonable Rs 128 crore(ex-showroom Delhi) as opposed to the Rs 157 crore of the imported 750Li

The 740Li is only available in one specification ampndash Design Pure Excellence Signature ampndash which like the engine is themid-level offering in the range It gets a bit more kit than the starting variant and uses a classier more chrome-heavy look than theracier more expensive M Sport top trim offered with the other two engines

Whatamprsquos it like on the inside

Weamprsquove said in past reviews of the car that the new 7-seriesamprsquo interior is leagues ahead of its predecessoramprsquos interms of craftsmanship and the kinds of materials used Thereamprsquos softer leather contrast stitching lighter-coloured wood grainand loads of brushed metal all over the place The design however is still a bit too business-like especially compared to thedramatic dashboards of the Mercedes S-class and Jaguar XJ

It does pack in loads of tech though with BMWamprsquos latest and greatest iDrive onboard computer now operable by not just theclick wheel and touchpad but also a touchscreen and even a handful of gesture controls the last of which work with varyingdegrees of effectiveness The back seat is ridiculously spacious and this DPE Signature trim gets a bench seat thatamprsquos madeof two reclining chairs with an armrest that folds down in the centre housing the seat controls and a Samsung tablet that lets you

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

Top

International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

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Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

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Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

Top

GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

Top

Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

Top

SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

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PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

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Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 34: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

operate just about everything from the air-con the ambient lighting and infotainment to the seat heating cooling and massage thesun blinds and the sunroof

Strangely however while the rear seats and driveramprsquos seat are lavishly equipped the front passenger seat isnamprsquot It onlyhas basic electric adjustment (no lumbar and side bolster adjustment and you canamprsquot even adjust the headrest) and it lacksthe massage function It seems its main purpose is folding forward to liberate even more room for the rear-left passenger andreleasing the footrest thatamprsquos fixed onto the back of it Another disappointing omission is paddle shifters yes this is alimousine and itamprsquos not the M Sport version (which does get them) but itamprsquos still a BMW and as youamprsquoll see in thenext section owners might be quite inclined to take the wheel from time to time

Whatamprsquos it like to drive

First things first the new motor The 740Li uses a 2998cc twin-scroll-turbocharged straight-six that produces 326hp and 450Nm oftorque Itamprsquos paired as ever with an eight-speed automatic gearbox sourced from ZF Initial refinement is just superb as itmurmurs and shimmies to life and then settles down into a calm idle You can hear it a bit once you open it up past say 3500rpm(on its way to a near-7000rpm redline) but itamprsquos a good noise a bit hushed by the turbo whoosh and the cabin insulation butunderneath is that classic BMW straight-six mechanical rasp Whatamprsquos more audible at speed is a bit of tyre noise andthatamprsquos not ideal in a car of this sort Acceleration is creamy smooth and really reminds you just how special a Bavarian petrolstraight-six used to feel (this and the X5 are the only two mainstream models to currently offer a six-cylinder petrol in India) Youreally donamprsquot mind extending it to the redline from time to time because power delivery is really strong and the gearboxmakes sure it continues unabated between ratios While the 750Li gets to 100kph in a M5-rivalling 47sec you have to admit thatthis 740Liamprsquos claimed 56sec time is far from shabby Thatamprsquos partly because despite being a 52m-long limousine it stillweighs less than 18 tonnes thanks to the lightweight construction including carbon-fibre components in key areas

Drive modes dictate the way the engine gearbox steering and suspension behave and you get a choice of Eco Pro ComfortComfort Plus and Sport the first and last of which get their own amplsquoindividualamprsquo settings to let you customise your driveFour-corner air suspension (the previous 7-series had air springs only at the rear) has an inherently soft and pillowy ride quality andin Comfort Plus itamprsquos simply too bouncy Comfort is good for everyday use while Sport mode keeps body movements incheck and is still comfortable enough Still while it is super comfortable it lacks that all-conquering quality youamprsquoll find in anS-class Some sharper bumps can still be felt through the seat of your pants fine by most standards but in this segment all toonoticeable

And though this is no sportscar Sport mode does a much better job of tightening the car up should you want to give Jeeves the dayoff and head for the hill station Yes youamprsquoll be aware of its size but with quick sharp steering surprisingly good body controland that rev-happy engine you might occasionally forget

Should I buy one

Itamprsquos good that BMW has given buyers this mid-range engine option as petrol cars are becoming more popular As Jaguarcurrently only offers a four-cylinder petrol XJ and Audi only V8 and W12 petrols for the A8 this caramprsquos only real rival is theMercedes-Benz S 400 Itamprsquos good to see very little of the luxury has been left out on this locally assembled Design PureExcellence Signature trim (the other two engines can be made-to-order as full imports should you desire) and that really showshow well BMW has upped its game on the luxury front compared to the previous-generation car The motor doesnamprsquot for asecond make you feel like youamprsquove skimped for the amplsquolower variantamprsquo with great refinement and smooth powerdelivery it really deserves a spot in the pantheon of great BMW engines All that keeps it from being the class leader are refinementand ride quality which are but a hairamprsquos breadth below the lofty class standard But alas thatamprsquos what matters most inthis segment While the super-capable 730Ld will likely still remain the most popular variant we do anticipate seeing a lot of 740Libadges popping up on our streets toohttpwwwautocarindiacomauto-reviews2017-bmw-740li-review-test-drive-4048170aspx

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International News

Samsung gets SKorea nod to test driverless car carrying its parts amp software ReutersSee this story in The Economic Times

Seoul Samsung Electronics has got permission from South Korean authorities to domestically test a driverless vehicle fitted with itselectronic parts and software as the tech giant aims to muscle into the automotive industry in search of a new growth driver

The land ministry in a statement issued on Monday said the car is a modified version of a South Korean car makers vehicle usingSamsungs own components such as cameras as well as its artificial intelligence software

The firm plans to use the car to develop a self-driving algorithm capable of driving in adverse weather conditions andnext-generation components for autonomous cars the ministry said

We would like to clarify that the company has no plan to enter the car manufacturing business Samsung told Reuters in aseparate statement on Tuesday adding the vehicle will further its development of deep learning algorithms for autonomousoperations

Samsung has identified the auto industry as a new source of growth as the market for its key products such as smartphones

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

Top

Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

Top

Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

Top

BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

Top

Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

Top

GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

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General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

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Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

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SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

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Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

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Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

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India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 35: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

matures It completed the $8 billion acquisition of Harman International Industries earlier this year a move that analysts say mayhelp Samsung scale up quickly by taking control of an automotive parts maker with a proven track record

It may take years for the auto industry to become a big enough business to rival its mainstay memory chip and smartphoneoperations however Samsung has not clinched any major supply agreements with car makers yethttpautoeconomictimesindiatimescomnewsauto-technologysamsung-gets-s-korea-nod-to-test-driverless-car-carrying-its-parts-software58476698

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Hyundai posts double-digit fall in global car sales IANSSee this story in The Economic Times

Seoul Global car sales of South Korean automakers posted a double-digit fall in April due to weak demand from China the worldslargest automobile market industry data showed on Tuesday

Koreas biggest carmaker Hyundai Motor and its affiliate Kia Motors logged 364225 units and 209832 units respectively in globalauto sales in April down 117 per cent and 132 per cent from a year earlier Xinhua news agency reported

Hyundais car sales in the domestic market rose 15 per cent but overseas sales tumbled 139 per cent As for Kia both local andoverseas sales declined last month

Weak demand for South Korean cars in China was attributable to the slump In March the combined car sales by Hyundai and Kiaplunged 522 per cent in China on a yearly basis

China is the biggest market for the South Korean companies About a quarter of total auto sales of Hyundai and Kia in 2016 were inChina

GM Koreas global sales reduced 28 per cent while those for Ssangyong Motor dropped 178 per cent

Only Renault Samsung posted a growth by selling 22444 vehicles globally in April that was up 21 per cent from a year agohttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshyundai-posts-double-digit-fall-in-global-car-sales58477929

Top

Cummins profit beats estimates raises 2017 forecasts ReutersSee this story in The Economic Times

New Delhi Engine maker Cummins Inc reported a higher-than-expected quarterly profit helped by stronger demand fromconstruction and mining industries and raised its 2017 forecasts for revenue and earnings before interest and tax

Shares of Cummins which counts PACCAR Inc Daimler AG and Navistar International Corp among its customers were up 52percent at $15925 in premarket trading on Tuesday

The Columbus Indiana-based company said it now expects 2017 revenues to be up 4 to 7 percent compared with flat to down 5percent previously and earnings before interest and tax to be in the range of 1175-125 percent of sales up from 110-115percent

Analysts on average were expecting 2017 revenue to be down 12 percent and earnings before interest and tax of 113 percentaccording to Thomson Reuters

Revenue in the Cummins engine segment its biggest rose 24 percent to $202 billion in the first quarter ended April 2 as thecompany sold more engines to global construction markets

Net income attributable to the company rose to $396 million or $236 per share in the quarter from $321 million or $187 pershare a year earlier

Net sales rose about 7 percent to $459 billion

Analysts on average had expected first-quarter earnings of $181 per share and revenue of $415 billionhttpautoeconomictimesindiatimescomnewsauto-componentscummins-profit-beats-estimates-raises-2017-forecasts58478639

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BMW Motorrad introduces new website The Economic Times

Munich German luxury motorcycle manufacturer BMW Motorrad has introduced a newly designed website informed the companyin an official statement

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

Top

Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

Top

GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

Top

General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

Top

Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

Top

SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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Page 36: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

It showcases BMW Motorrad as a lifestyle brand with its promise ampldquoMake Life a Rideamprdquo featuring a wide range ofemotional content for a fascinating experience that will appeal to die-hard BMW fans added the company

The structure of the new product pages is based on the kind of consultation talk a customer might typically experience at a BMWMotorrad dealership The new website also provides the sounds of the BMW motorcycles

The manufacturer further added Over 400 pages were created for the new platform with over 8000 images and extensive videocontent The new BMW Motorrad platform will be available in a total of 50 countries Germany and South Africa were the first to golive with the newly designed website

The new BMW Motorrad website was created in cooperation with SYZYGY Deutschlandhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbmw-motorrad-introduces-new-website58481735

Top

Automakers April US sales drop Wall Street fears boom is over ReutersSee this story in The Economic Times

Detroit Major automakers on Tuesday posted declines in US new vehicle sales for April in a fresh sign the long boom cycle thatlifted the American auto industry to record sales last year is losing steam sending carmaker stocks down

The drop in sales versus April 2016 came on the heels of a disappointing March which automakers had shrugged off as just a badmonth But the two straight weak months is heightening Wall Street worries the cyclical industry is on a downward swing after anearly uninterrupted boom since 2010 in the wake of the Great Recession

General Motors shares were down 32 percent while Ford Motor slid 41 percent and Fiat Chrysler Automobiles US-traded sharestumbled 44 percent

The US auto industry is facing multiple challenges Sales are slipping and their vehicle inventory levels have risen even as theyhave hiked discounts to lure customers A flood of used vehicles from the boom cycle are increasingly competing with new cars

The question for automakers How much and for how long to curtail production this summer which will result in worker layoffs

Inventory buildup is a top concern of automakers and all eyes are on whether cuts in production are enough to offset expected dipsin sales Jessica Caldwell executive director of industry analysis at consultant and car shopping website Edmunds

No 1 US automaker General Motors reported a 6 percent decline in April sales to 244406 vehicles but crossovers and truckscontinued to see strong growth

Sales at Ford the No 2 US automaker fell 72 percent in April while Toyota recorded a drop of 44 percent and FCA sales were off7 percent

Over the past couple of years US consumers have increasingly shunned cars in favor of larger crossovers SUVs and trucks Whileautomakers posted steep declines for car sales in April SUVs crossovers and trucks were either up or off slightly

New vehicle sales hit a record 1755 million units in 2016 But as the consumer appetite for new cars has waned automakers haveleaned more heavily on discounts Analysts put the seasonally adjusted annualized rate of sales for April at around 17 million units

General Motors said its consumer discounts were equivalent to 117 percent of the transaction price The automaker also said itsinventory level rose to 100 days of supply at the end of April versus around 70 days at the end of 2016

Recent levels have worried analysts and General Motors has promised inventories will be down by the end of 2017

On a conference call Mark LaNeve Fords vice president for US marketing sales and service insisted the industry was relativelyconstrained in offering discounts in April

Ford car sales dropped 21 percent and trucks declined 42 percent while SUV sales rose 12 percent

Toyotas luxury Lexus brand posted an 111 percent slide US car sales at the Japanese automaker were down 104 percent whiletruck sales were up 21 percent

Nissan Motor said April US sales were off 15 percent but SUVs crossovers and trucks jumped 11 percent

Honda Motor reported a 7 percent decline in sales in April with cars off 74 percent and trucks up just 08 percenthttpautoeconomictimesindiatimescomnewsindustryautomakers-april-us-sales-drop-wall-street-fears-boom-is-over58483108

Top

GM writes down Venezuela operations after authorities seize plant ReutersSee this story in The Economic Times

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

Top

General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

Top

Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

Top

SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

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DirectorSapna KulshresthaMobile 9810975257

Production-in-ChargeS K MandalPhone 011-22626650

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PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd

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Page 37: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

New Delhi General Motors Co said on Tuesday it would take a charge of up to $100 million after a judge ordered the seizure of itsplant in Valencia last month a move that prompted the halting of its operations in Venezuela

The largest US automaker said it was deconsolidating its business in the country following the seizure of its Valencia plant on April18 by judicial authorities which led GM to fire 2700 workers The plant had not produced a car since the beginning of 2016because of parts shortages and strict currency controls

GM the market leader in Venezuela for 35 years said executives have expressed a willingness to talk with government officialsand union leaders about the circumstances under which it could be possible to start production and employ some number ofworkers with a new viable business model

Total auto production in Venezuela fell to a historic low of 2849 cars in 2016 about 75 percent less than the year before accordingto Venezuelas automotive industry group

In the first two months of 2017 total Venezuelan auto production was just 240 vehicles down 50 percent over the same period lastyear

Declining auto production comes amid rising protests On Tuesday Venezuelas opposition was blocking streets to decry unpopularleftist President Nicolas Maduros decision to create a new super-body known as a constituent assembly a move they say is aveiled attempt to cling to power by avoiding elections

Venezuelas car industry has been hit by a lack of raw materials stemming from complex currency controls

Nearly all vehicles built in Venezuela in the first two months this year were assembled by Toyota Motor Corp which said last monthits plant was operating normally But the company said it was only producing based on orders that come in

In early 2015 Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pretax writedown The companydoes not currently produce vehicles in Venezuela

The South American nations economic crisis has hurt many other US companies including food makers and pharmaceuticalfirms A growing number of them like GM have removed their Venezuelan operations from their consolidated accountshttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsgm-writes-down-venezuela-operations-after-authorities-seize-plant58483152

Top

General Motors Durant-Dort Factory One now an archive for early auto manufacturing The Economic Times

Flint Michigan American automaker General Motors on Monday opened the restored Durant-Dort Factory One considered to bethe companyamprsquos birthplace and epicenter of the global auto industry informed the company in an official statement

Established in 1886 the factory now includes archive and research center and community meeting space where future generationscan learn about the innovators and risk takers who reinvented personal transportation added the company

ampldquoFactory One sparked the global auto industry and was a catalyst in the formation of General Motorsamprdquo said MarkReuss General Motors executive vice president of Global Product Development Purchasing and Supply Chain who championedthe project ampldquoIt preserves the stories of the early visionaries who built a brand-new industry in this city within the very walls ofwhere it happenedamprdquo

Factory One is available to the public by appointment with event space offered for rent for corporate community educationalevents and more It can accommodate up to 300 people

Factory Oneamprsquos archive is free to use and contains about 100000 historical documents photos and other artifacts related tocarriage-building and early automobile manufacturing in the Flint area as well as General Motors history

Rare vintage carriages and automobiles with Flint roots also will be displayed at the grand opening of the facility which includesprovisions to host classic auto clubs and events such as the cityamprsquos annual Back to the Bricks which brings visitors fromaround the world to Flint each August informed the automaker

ampldquoFactory One is part of the very fabric of Flint and its reopening is as much about the future as it is the pastamprdquo saidKevin Kirbitz Factory One operations manager ampldquoIt is a tremendous community asset and academic resource that willeducate and inspire generations to comeamprdquohttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-durant-dort-factory-one-now-an-archive-for-early-auto-manufacturing58473374

Top

Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Times of India

Frankfurt Car maker Opel which PSA Group has agreed to buy from General Motors will use the French carmakers technology inthe next generation of its best-selling Corsa model a company spokesman said confirming a newspaper report

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

Top

SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

NURC MediaNext Pvt Ltd

DirectorSapna KulshresthaMobile 9810975257

Production-in-ChargeS K MandalPhone 011-22626650

Editing-in-ChargeGulab Singh YadavMobile 9999132357

Marketing-in-ChargeRashmi ThakurMobile 9958949710

Accounts-in-ChargeVimal ParasharMobile 9910631712

PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd

This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe

Powered by Enablingbiz Esoluttions

Page 38: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

The current Corsa model is built with GM technology Opel had previously said its new Corsa slated to be launched in 2019 wouldalso be built with GM technology but has now decided to use Peugeot technology allowing for higher margins Allgemeine ZeitungMainz reported in its online edition on Monday

PSA which agreed to buy Opel in March was not immediately available for comment

The new Corsa will be Opels fourth joint project with PSA after Opel models Crossland X Grandland X and Combo The Corsa willbe built at Opels largest manufacturing site in Saragossa Spainhttptimesofindiaindiatimescomautocarsopel-to-build-new-corsa-model-with-peugeot-technologyarticleshow58471623cms

Top

SUV Concept blends electric power in stylish body The Economic Times

Volkswagen is getting ready to unveil a suite of electric vehicles by 2020 -and its latest concept reveal at the Shanghai Auto Showhints that we should get ready for a small SUV Volkswagen debuted its ID Crozz -an all-electric crossover SUV that `underlinesjust how diverse the range of future Volkswagen electric models is going to be the automaker wrote in a press release

Volkswagen is far from the only automaker pursuing electric SUVs Tesla is working on a battery-powered crossover called theModel Y It will be smaller than the Model X and is expected to be more affordable than its high-end SUV The German automakeris investing heavily in battery-powered vehicles in response to its emissions cheating scandal Volkswagen will introduce 30 electricor hybrid vehicles by 2035 and invest $2 billion in electric charging stations

Vo l k s w a g e n s a y s i t s Crozz is capable of driv ing 311 miles on a single charge meaning its set to compete with otherlongrange electric SUVs on the market in 2020 That kind of range is made possible by Volkswagens Modular Electric Drive platform (MEB) which the automak er has put a lot of stock into

The MEB architecture allows Volkswagen to place its drive system components -the two motors high voltage battery andelectronics linking everything together -under the floor That frees up interior space ampldquoIf it was ever possible to make a 100 percent certain prediction of what the future will look like here it isampldquo Klaus Bi schof f Vol k swagens head of design said aboutthe MEB platform

The ID Crozz gets 302 hp and boasts a top speed of 112 mph It also features a panoramic sun roof Volkswagen says thecrossover SUV is capable of driving autonomously

W hen the self driving mode is activated the steering wheel will retract into the dashboard The concept also comes with aheads-up display unit and a 58-inch touchscreen It also seats four passengers

Top

Economy

Rupee closes up 3 paise against dollar ahead of US Fed meet PTISee this story in The Times of India

Mumbai The rupee on Tuesday breached the 63 level against the dollar in day trade but ended just 3 paise higher at 6421 asforeign investors pulled out funds ahead of the US Federal Reserves meeting on interest rate

The domestic currency had opened strong at 6412 and breached the 63 level briefly in early trade on heavy unwinding of dollarpositions by exporters It rose 6399 per dollar level in early trade in line with gains in stock markets

However the rupee retreated sharply to trade in a narrow band for most of the day as stock markets surrendered gains

The rupee settled at 6421 per dollar showing a modest gain of 3 paise or 005 per cent It had lost 13 paise in last two tradingsessions

Forex market trading was largely muted ahead of the US Federal Open Market Committees monetary policy announcement astraders preferred to stay on the sidelines and avoided taking and long positions a dealer said

Foreign investors today pulled out Rs 611 crore from stock markets provisional exchange data showed

Domestic equities ended on a flat note as investors booked profits in key frontline heavyweights amid geopolitical developmentsand ongoing corporate earnings

The BSE sensex gained 278 points to close at 2992118 after briefly recapturing the 30000-mark in morning trade while Niftyadded 975 points to 931380

The RBI meanwhile fixed the reference rate for the dollar at 642072 and for the euro at 700436

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

NURC MediaNext Pvt Ltd

DirectorSapna KulshresthaMobile 9810975257

Production-in-ChargeS K MandalPhone 011-22626650

Editing-in-ChargeGulab Singh YadavMobile 9999132357

Marketing-in-ChargeRashmi ThakurMobile 9958949710

Accounts-in-ChargeVimal ParasharMobile 9910631712

PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd

This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe

Powered by Enablingbiz Esoluttions

Page 39: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

In worldwide trade the greenback traded weak against all major trading rivals ahead of Feds monetary policy meeting results evenas macro data showed that US economic growth in the first quarter of the year slowed to the weakest pace since 2014

In cross-currency trade the Indian unit recovered against the pound sterling to finish at 8292 from 8313 per pound and bouncedback against the euro close at 7008 as compared to 7023 earlier

The local currency also recouped against the Japanese Yen to conclude at 5723 per 100 yens from 5769 last weekend

In the forward market today premium for dollar moved down further due to consistent receivings from exporters

The benchmark six-month premium for October softened to 160-162 paise from 1615-1635 paise and the far-forward April 2018also moved down to 320-322 paise from 322-324 paise on last Friday

Crude prices traded substantially weak amid concerns that OPECs production cut scheme will be insufficient to boost prices in alasting wayhttptimesofindiaindiatimescombusinessindia-businessrupee-closes-up-3-paise-against-dollar-ahead-of-us-fed-meetarticleshow58479947cms

Top

Sensex ends flat realty consumer durables stocks major gainers AgenciesSee this story in The Hindu Business Line

Mumbai The Sensex and Nifty posted slight gains on Tuesday as auto makers such as Maruti Suzuki rallied on strong April salesbut broader gains were capped after Ambuja Cements quarterly results raised concerns about corporate earnings

The broader NSE index ended up 975 points or 01 per cent at 931380 while the benchmark BSE index closed 278 points or001 per cent higher at 2992118 Both indexes ended lower in the previous two sessions

Among BSE sectoral indices realty index was the star-performer and was up 199 per cent followed by consumer durables 121per cent oil amp gas 105 per cent and infrastructure 073 per cent On the other hand healthcare index was down 078 per centmetal 057 per cent capital goods 056 per cent and power 05 per cent

Top five Sensex gainers were ONGC (+314) HDFC (+299) Maruti (+276) GAIL (+146) and Bajaj Auto (+128) whilethe major losers were Lupin (-249) Bharti Airtel (-200) Reliance (-171) Sun Pharma (-159) and NTPC (-14)

ampldquoMarkets are in a consolidation mode as the corporate earnings season unfoldamprdquo said Rakesh Tarway head ofresearch Reliance Securities Ltd ampldquoTill the end of the earnings season we can only expect to see a day-to-day sector-basedor stock-based impact on the indexes based on the earnings performanceamprdquo

Ambuja Cements fell as much as 421 per cent after its quarterly profit missed estimates becoming the main drag on the NSEindex

Shares of most Indian auto makers however rose after they reported a jump in April vehicle sales on Monday

Maruti Suzuki gained as much as 253 per cent to a record high of Rs 6690 while Eicher Motors rose 261 per cent to a recordhigh of Rs 2674790

Oil refiners also rose on hikes in petrol and diesel prices Bharat Petroleum Corp gained as much as 275 per cent HindustanPetroleum Corp rose as much as 240 per cent while Indian Oil Corp climbed as much as 187 per cent

Asian sharesAsian shares advanced on Tuesday helped by rising optimism on the technology industry and easing concerns over North Koreawhile the dollar edged up to one-month high versus the yen

MSCIs broadest index of Asia-Pacific shares outside Japan was up 01 per cent with many of the regions markets reopening aftera long holiday weekend Japans Nikkei rose 03 per cent

Wall Street climbed on Monday boosted by gains in Apple and other big tech stocks that more than offset weak economic data andpushed the Nasdaq Composite to another record high

The SampP 500 gained 413 points or 017 per cent to 238833 and the Nasdaq Composite added 4400 points or 073 per cent to609160 a record closing high

The Dow Jones Industrial Average fell 2705 points or 013 per cent to 2091346 after notching its best weekly performance of2017 last weekhttpwwwthehindubusinesslinecommarketsstock-marketssensex-nifty-live-updatearticle9676180ece

Top

India to clock 71 GDP this year 75 in 2018 UN PTISee this story in The Hindu Business Line

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

NURC MediaNext Pvt Ltd

DirectorSapna KulshresthaMobile 9810975257

Production-in-ChargeS K MandalPhone 011-22626650

Editing-in-ChargeGulab Singh YadavMobile 9999132357

Marketing-in-ChargeRashmi ThakurMobile 9958949710

Accounts-in-ChargeVimal ParasharMobile 9910631712

PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd

This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe

Powered by Enablingbiz Esoluttions

Page 40: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

United Nations India is expected to clock 71 per cent growth this year before edging up to 75 per cent in 2018 according to a UNreport which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks

The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report amplsquoThe Economicand Social Survey of Asia and the Pacific 2017amprsquo launched yesterday that the economic growth for India is projected to bestable at 71 per cent in 2017 before edging up to 75 per cent in 2018 underpinned by higher private and public consumption andincreased infrastructure spending

Growth in India is forecast at 71 per cent this year as ampldquore-monetisation restores consumption and infrastructure spendingincreasesamprdquo the report said

Inflation is projected to reach 53-55 per cent in 2017 and 2018 which is somewhat above the official target of 45-5 per cent

The report however noted that a key downside risk for India was heightened financial sector risks related to the concentration ofbad loans in public sector banks

The gross non-performing assets ratio in public sector banks reached almost 12 per cent in 2016 which points to the need forampldquobank recapitalisationamprdquo it said

Noting the impact of demonetisation the report said the unexpected withdrawal of the two largest denomination currency notes inNovember 2016 and their subsequent replacement with new currency weighed down economic conditions in late 2016 and early2017

The resulting liquidity crunch led to delays in the payment of wages and purchase of inputs in the industrial sector the report saidampldquoWhile the impact of demonetisation on the economy is expected to be transient a slower-than-expected recovery wouldparticularly diminish the outlook for cash-intensive sectors and supply chains for agricultural productsamprdquo it said

The recent budget called for various measures that seek to mitigate the large temporary adverse shocks on income and wealthsuch as expanding a low-cost housing scheme and providing more relief to the agricultural sector and credit support for smallenterprises

Notwithstanding its short-term disruptions the report said one of the medium-term benefits of demonetisation was to help expandbanking sector liquidity ampldquoThe countryamprsquos medium-term economic development will also benefit from recent reforms thatare aimed at easing domestic supply bottlenecks such as the implementation of the goods and services tax amendment of abankruptcy law and opening up of the pharmaceuticals defence and civil aviation sectorsamprdquo it said

The rate of Indiaamprsquos economic growth moderated to 71 per cent in 2016 from 76 per cent in 2015 with the manufacturingsector more sluggish in 2016 relative to 2015 owing to weaker domestic demand rising input costs and subdued bank credit

Fixed investment continued to contract as stressed corporate balance sheets suppressed firmsamprsquo appetite for additionalspending the report said

Overall the still rapid output growth in 2016 benefited from a modest recovery in agriculture due to an improved monsoon seasonand robust growth in public administration following public sector salary increases it said

Despite the overall fiscal tightening capital expenditure under the budget for fiscal year 201718 is about 25 per cent higher thanthat in the preceding budget

The report highlighted that despite a broadly positive economic outlook for 2017 Asia-Pacific economies are vulnerable to risingglobal uncertainty and trade protectionism

The regionamprsquos developing economies are projected to grow at 5 per cent and 51 per cent in 2017 and 2018 up from 49 percent last year

Economic conditions are broadly stable in China and higher value-added sectors are gradually replacing excess capacity sectors asdrivers of output and employment the report said

The continued softening of economic growth in China projected at 65 per cent in 2017 against 67 per cent in 2016 reflectsongoing deleveraging and restructuring efforts to boost output in the medium term it said

The projected moderate Asia-Pacific economic growth faces risks from rising protectionism and global uncertainty it added

The report estimates that a steeper-than-anticipated increase in these factors could reduce average regional growth in 2017 by upto 12 percentage points

Launching the survey in Bangkok UN Under-Secretary-General and ESCAP Executive Secretary Shamshad Akhtar emphasisedthat better governance for effective mobilisation and use of fiscal resources is critical to advancing the 2030 Agenda for SustainableDevelopment ampldquoAs we enter the second year of the 2030 Agenda economic growth in Asia-Pacific economies is steady butmodest amid prolonged weak external demand and rising trade protectionism Future economic growth will need to rely more onproductivity gains compared to factor accumulationamprdquo Akhtar saidhttpwwwthehindubusinesslinecomeconomyindia-to-clock-71-gdp-this-year-75-in-2018-unarticle9676418ece

Top

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

NURC MediaNext Pvt Ltd

DirectorSapna KulshresthaMobile 9810975257

Production-in-ChargeS K MandalPhone 011-22626650

Editing-in-ChargeGulab Singh YadavMobile 9999132357

Marketing-in-ChargeRashmi ThakurMobile 9958949710

Accounts-in-ChargeVimal ParasharMobile 9910631712

PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd

This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe

Powered by Enablingbiz Esoluttions

Page 41: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

PMI data Fitch outlook point to a humming economy The Hindu Business Line

New Delhi Indiaamprsquos economic growth story received an affirmative thumbs-up on Tuesday from cold hard data on factoryoutput in April and from the warm glow of sentiments articulated by global rating agency Fitch

Factory output increased for the fourth straight month in April led by strong growth in new orders The Nikkei India ManufacturingPurchasing Managersamprsquo Index stood at 525 in April the same level as in March

The rate of growth of new orders was at a six-month high in April and output increased in each of the three monitored sectors ledby consumer goods

New export orders rose for the third month in a row although at a softer pace than in March

Firing on all cylindersampldquoBuoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total newbusiness in Aprilamprdquo said Pollyanna De Lima Economist at IHS Markit and author of the report

De Lima said the outlook appeared encouraging with output expected to remain on an upward trajectory amid reports of plannedcapacity expansions new product launches aggressive marketing campaigns and an improving economic scenario

That robust sentiment was echoed in rating agency Fitchamprsquos reading of Indiaamprsquos economic outlook and in its projectionof 77 per cent growth in 2017-18 and 2018-19 against 71 per cent last year

Fitch retained Indiaamprsquos sovereign ratings at BBB- with a stable outlook which is the lowest investment grade despite theFinance Ministryamprsquos unsubtle attempts to push for an upgrade But it nevertheless expressed confidence that the businessenvironment is likely to gradually improve with the implementation and continued broadening of the governmentamprsquos structuralreform agenda ampldquoIndiaamprsquos sovereign ratings balance a strong medium-term growth outlook and favourable externalbalances with a weak fiscal position and difficult business environmentamprdquo Fitch said in a statement on Tuesday

Reform momentumFitch lauded the governmentamprsquos efforts at sustaining the reform momentum for the past three years through measures such asthe Insolvency Code relaxation in the foreign direct investment regime and the soon-to-be rolled-out GST It also said that efforts torein in inflation are now bearing fruit and India is also less vulnerable to trade shocks due to its more domestically based economyand strong external finances

But it cautioned ampldquothe impact of the reform programme on investment and real GDP growth will depend on how it isimplemented and the extent to which the government continues its strong drive to improve the still-weak businessenvironmentamprdquo

ampldquoWeak public finances continue to constrain Indiaamprsquos ratingsamprdquo it noted it also sensed an uncertainty aboutwhether the government would commit to the debt target as suggested by the expert committee to review the Fiscal Responsibilityand Budget Management Act

Banking sector woesThe rating agency further highlighted the challenges in the banking sector particularly the contingent liabilities of public sectorbanks It expects that non-performing loans will rise further to 97 per cent of total loans by end of the fiscal from 46 per cent in2015-16 Fitch further pointed out that Indiaamprsquos economy is less developed on a number of structural metrics than many of itspeers with low average per capita GDP and weak governance standards

There were a few other niggling mood downers the Nikkei India PMI survey revealed that purchasing costs increased for the 19thconsecutive month in April which could dampen calls for a rate cut by the RBI The rate of cost inflation also gathered pace sinceMarch

Yet the overall picture as backed up by both objective data and subjective sentiments is of an economy that seems to be chuggingalong nicely

Growth momentumBoth domestic demand and new export orders boost PMIPlanned capex and launches growth outlook bode wellFitch lauds governmentamprsquos efforts at sustaining reformsMaintains sovereign rating at BBB- with stable outlookhttpwwwthehindubusinesslinecomtodays-paperpmi-data-fitch-outlook-point-to-a-humming-economyarticle9677461ece

Top

Closing

Last Financial Closing

Sensex 2992118 (+278)

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

NURC MediaNext Pvt Ltd

DirectorSapna KulshresthaMobile 9810975257

Production-in-ChargeS K MandalPhone 011-22626650

Editing-in-ChargeGulab Singh YadavMobile 9999132357

Marketing-in-ChargeRashmi ThakurMobile 9958949710

Accounts-in-ChargeVimal ParasharMobile 9910631712

PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd

This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe

Powered by Enablingbiz Esoluttions

Page 42: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

NSE 931380 (+975)US$ spot Rs6422US$ Y1120300US$ 6 months RsYen Rs57Euro spot Rs7008

Gold (10gm) Rs28639Silver (1kg) Rs3868900

Crude Oil (WTI) Crude Oil (Brent) $5207 (+055)

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 25025 Asahi Ind 1 21765Amara Raja B 1 89320Ashok Leyland 1 8365Bajaj Auto 10 289800Bharat Forge 2 116355Denso 1 Eicher Motor 10 2576725Escorts 10 56465Exide Ind 1 23090Force Motors 10 46245Gabriel India 1 12445Hero Motocor 2 335295Hind Motors 5 995Hi-Tech Gear 10 33925Jay Bh Maruti 5 61220

Jamna Auto 5 24140JK Tyres amp Inds 10 1701Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39760Kirloskar Br 2 27830LML Ltd 10 1220LampT 2 173205Lumax Ind 10 144215Lumax Tech 10 51400MampM 5 134095Maruti Suzuki 5 670550Motherson SS 1 40205Minda Inds 2 49695MRF 10 6837255Omax Auto 10 8385Rico Auto 1 6110Sona Koyo St 1 8235

SRF 10 176860Tata Motors 2 45125 TVS Motors 1 49550

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7305Hindalco 1 20035Hind Zinc 2 26880JSW Ispat S 10 Jind Steel 1 11365JSW Steel 1 19580Jindal Saw 2 8030National Aluminium 5 6830SAIL 10 5920

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

Top

NURC MediaNext Pvt Ltd

DirectorSapna KulshresthaMobile 9810975257

Production-in-ChargeS K MandalPhone 011-22626650

Editing-in-ChargeGulab Singh YadavMobile 9999132357

Marketing-in-ChargeRashmi ThakurMobile 9958949710

Accounts-in-ChargeVimal ParasharMobile 9910631712

PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd

This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe

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Page 43: Indian Auto Industry Update - nurcmedianext.com fileIndian Auto Industry Update 03 May 2017 Industry Complete Sales Analysis for April 2017 Mahindra Auto domestic sales down 4% in

Tata Steel 10 44505Visa Steel 10 2180

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24180Binani Industries 10 8580Birla Corp 10 77470India Cement 10 21050Prism Cement 10 12040JK Cement 10 98195Shree Cement 10 1921855

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NURC News Update - AUTOMOBILES

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