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Friday, January 17, 2020

Audi launches crossover SUV Q8 in India, price starting from Rs 1.33 cr

January 15, 2020 7:57:20 pm

Audi, which once enjoyed a leadership position in the Indian luxury car segment, has devised a strategy for this year and next five years, with a focus on customers, products, network, and digitalisation to revive its growth prospectors in India.

Zero to 60 in 2.2 seconds? 10 electric vehicles to watch

January 1, 2020 4:00:42 pm

Sales of electric autos were double those from the year before, but they were still dwarfed by their fossil-fuel-powered brethren.

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Former Uber CEO Kalanick to resign from company’s board

December 24, 2019 9:58:00 pm

Uber turbocharged the gig economy and since 2010 has logged 15 billion trips. Kalanick was ousted as CEO in the summer of 2017 with the company mired in numerous lawsuits.

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Automobile sector is in transition phase, no threat of job losses: Govt in Rajya Sabha

December 10, 2019 1:39:29 pm

Passenger vehicle sales in India rose marginally in October aided by positive festive season sentiment and introduction of new models in utility vehicle space, just about managing to snap 11 continuous months of decline in sales, according to figures released last month by auto industry body.

Maruti recalls 63,493 units of Ciaz, Ertiga, XL6 to fix faulty component

December 7, 2019 4:36:20 am

A possible defect may have occurred in the MGU during manufacturing by an overseas global part supplier, the company said, adding that vehicles requiring replacement of faulty part will be retained for part replacement free of cost.

Hyundai Motor Co. will spend 20 trillion won ($17 billion) over the next six years on new technology to help make the switch to electric and autonomous vehicles. Announcing its strategic plan to 2025, the South Korean company pledged to spend almost half the new money on electrification. Autonomous driving will soak up 1.6 trillion won of the total, Hyundai said Wednesday. The investment forms part of a surge in spending at Hyundai, which like rivals worldwide faces an expensive future of lower-emissions, battery-powered vehicles. Competitors such as Volkswagen AG have also pledged tens of billions of dollars in investments in electrification. If successful, the plan should create a more profitable business with a global market share of 5% in 2025, up from 4% in 2018, according to Hyundai. Yet most traditional carmakers are heading in the same direction, and all-electric rivals such as Tesla Inc. have a technological head start. That suggests competitive pressures aren’t likely to subside in the next era. German carmakers are set to invest $45 billion in electric vehicles over the next three years, while General Motors Co. is pushing ahead with a plan to sell 20 EV models by 2023. Shares of Hyundai rose 0.4% at 11:49 a.m. in Seoul as the company said it should be more than three times as profitable by the end of the six-year plan. Hyundai wants to widen its operating margin to 8% in 2025 -- up from 2.5% last year -- a level that would make the carmaker among the most profitable on the planet. BMW AG has a margin of 9.3% and Toyota Motor Corp. 8.2%, according to data compiled by Bloomberg, with most other global automakers in the 2%-6% range. Global Sacrifice The transformation will come at a price. Some 27.9 trillion won of costs, the equivalent of $23 billion, will be stripped out of the company in the next three years alone, Hyundai said. That’s part of the sacrifice being made at automakers across the world as the industry tackles a tectonic shift in vehicle technology. At the same time, trade-war tariffs hang over decades-old supply chains that serve a dwindling market. All told, carmakers are cutting more than 80,000 jobs in coming years, according to data compiled by Bloomberg News. The industry will produce 88.8 million cars and light trucks this year, an almost 6% drop from a year ago, according to researcher IHS Markit. Hyundai also said it plans to buy back 308 billion won of shares by early March.

Hyundai commits $17 billion to add electric, driverless cars

December 4, 2019 10:39:02 am

Announcing its strategic plan to 2025, the South Korean company pledged to spend almost half the new money on electrification. Autonomous driving will soak up 1.6 trillion won of the total, Hyundai said Wednesday.

Colm McLoughlin Receives the ABLF Lifetime Achievement Award

November 27, 2019 1:44:20 pm

Dubai Duty Free’s Executive Vice Chairman & CEO, Colm McLoughlin received the “Lifetime Achievement Award” at the Asian Business Leadership Forum (ABLF) and Awards held yesterday, 6th November at Jumeirah Emirates Tower in Dubai.

Salah Tahlak Gets Fourth Term on ATP International Group Council

December 5, 2019 4:18:56 am

Dubai Duty Free Tennis Championships Tournament Director is the only Arab to be re-elected for four consecutive terms

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Elon Musk: About 150,000 orders thus far for Tesla Cybertruck

November 24, 2019 8:55:29 am

"146k Cybertruck orders so far, with 42% choosing dual, 41% tri & 17% single motor", Musk said in a tweet, adding separately that the orders were achieved without any advertising or paid endorsements.

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Tesla unveils its electric pickup truck. It’s pointy

November 22, 2019 1:20:19 pm

Tesla has unveiled three models of its 'cybertruck': a single-motor rear-wheel-drive for $39,900, a dual-motor all-wheel-drive for $49,900, and a tri-motor all-wheel-drive for $69,900.

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BSVI norms implementation will be key: Passenger vehicle registrations up in Oct; numbers may dip again

November 20, 2019 5:41:31 am

With the festive season over and BSVI norms implementation just around the corner, the sales trajectory could dip again, analysts caution.

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An electric Mustang SUV? Detroit’s big sustainability bet

November 18, 2019 2:12:58 pm

Ford is hoping some of the cachet of the original Mustang will rub off on the new model and boost demand for electric vehicles, which now represent just 2% of the market.

Jawa Perak launched at Rs 1.94 lakh; bookings open in January

Jawa Perak launched at Rs 1.94 lakh; bookings open in January

November 16, 2019 2:07:30 pm

The BSVI-compliant bike comes with single-cylinder, four-stroke, DOHC (Dual Overhead Camshaft) engine.

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Mercedes-Benz rolls out V-Class Elite at Rs 1.10 crore

November 7, 2019 3:35:53 pm

The V-Class Elite, an upgraded version of V-Class Expression and V-Class Exclusive would be built in Spain and sold in the domestic market, Company Managing Director and CEO, Martin Schwenk said.

Hero MotoCorp launches BS-VI compliant Splendor iSmart priced at Rs 64,900

Hero MotoCorp launches BS-VI compliant Splendor iSmart priced at Rs 64,900

November 7, 2019 5:05:39 pm

The motorcycle, which has 110cc fuel injection engine that delivers power of 9 BHP, also provides added punch with higher torque along with a higher fuel efficiency from the previous generation, Hero MotoCorp said in a statement.

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September quarter: Maruti net falls 39%; to take steps to limit expenditures

October 25, 2019 5:15:20 am

Maruti declared a net profit of Rs 1,358 crore for the quarter ended September 2019, down 39.4 per cent from Rs 2,240 crore in the corresponding quarter last year

Hyundai Motor may raise stake in China joint venture

Hyundai Motor may raise stake in China joint venture

October 22, 2019 10:07:12 am

Hyundai is reviewing various plans to strengthen the joint venture's competitiveness in changing market conditions in China, the firm said in an emailed statement, without elaborating.

Mercedes-Benz launches G-class SUV G350d, priced at Rs 1.50 crore

October 16, 2019 4:59:54 pm

With the addition G350d, which is the first non-AMG-diesel variant of the G-class, the car makers SUV portfolio now has eight models--GLA, GLC, GLE, GLS grand edition, AMG GLC 43 4MATIC, GLE coupe and AMG G63.

‘Hamara Bajaj’ brings back iconic Chetak in electric edition

October 16, 2019 3:39:51 pm

The Chetak electric will be competitively price, managing director Rajiv Bajaj said. Sales for the e-scooter will commence from January next year, with Pune and Bengaluru being part of the initial rollout.

Western India Automobile Association completes a century

Western India Automobile Association completes a century

October 15, 2019 7:24:21 am

The WIAA is recognised under the Central & State Motor Vehicle Act and has been offering its services in the states of Maharashtra, Gujarat, Rajasthan, Madhya Pradesh and Goa.