Mahindra to invest an additional Rs 4,000 crore in Chakan in its next phase of expansion

Mumbai, August 28, 2014: Mahindra & Mahindra, India’s leading SUV manufacturer, today announced, in the presence of the Government of Maharashtra, that it would make an additional investment at its Chakan plant in Maharashtra. As part of its expansion plans, the company will invest additional Rs. 4,000 crore over a 7-year period taking the total investment in Chakan to Rs. 8,000 crores.

A Joint Declaration was signed today by Shri Apurva Chandra, Principal Secretary (Industries), Government of Maharashtra and Dr. Pawan Goenka, Executive Director, Mahindra & Mahindra Ltd. in the presence of Shri Prithviraj Chavan, Honourable Chief Minister, Government of Maharashtra, Shri Ajit Pawar, Honourable Deputy Chief Minister, Government of Maharashtra, Shri Narayan Rane, Honourable Minister for Industry, Government of Maharashtra, Shri Sachin Ahir, Honourable Minister of State for Industry, Government of Maharashtra and Mr. Anand Mahindra, Chairman, Mahindra Group, amongst other dignitaries. 

Discussing the expansion plans, Mr. Anand Mahindra, Chairman, Mahindra Group, said, "The Mahindra Group would like to express its deep and sincere gratitude to the Government of Maharashtra for its visionary industrial policies and efficient governance practices. This has prompted us to take the decision to scale up our world class Chakan plant, making Maharashtra a key partner in our growth over the coming years".

Speaking on the occasion, Dr. Pawan Goenka, Executive Director, Mahindra & Mahindra said, "We are delighted to announce the next phase of our expansion plans at Chakan and would like to thank the Govt. of Maharashtra for their continuous and unstinted support. I am sure that with this expansion, Mahindra will continue to play an integral part in the development of not only the region of Chakan but the state of Maharashtra, as well as the Indian auto industry in times to come”.

A total of Rs. 4,000 crore will be utilized towards infrastructure development, product development and capacity expansion for vehicles to be rolled out from the Chakan plant. The Government of Maharashtra has conferred the status of ‘Ultra Mega Project’ to this proposed expansion. In addition there will be further investment by suppliers to cater to our increased requirement.

About Mahindra

The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.

A USD 16.5 billion multinational group based in Mumbai, India, Mahindra employs more than 180,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.

In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.

Tata Motors enters Algeria with a range of passenger cars

Tata Motors on 27th Aug announced the launch of its passenger vehicle range in Algeria. The range includes the Tata Indica and Tata Vista from the hatchback range, and the Tata Indigo and Tata Manza from the sedans. The company has appointed SPA Elsecom for distribution and marketing of the Tata passenger vehicles in Algeria. The new range is now available in dealerships for sale.

Speaking on the introduction of these passenger cars in Algeria, Mr. Johnny Oommen, Head- International Business, Passenger Vehicle Business Unit, Tata Motors, said, "We are delighted to enter Algeria, which promises to be an important market for us.

Our entry into Algeria is aligned to the Company's Horizonext strategy, with an objective to provide the best customer experience - from the best vehicle experience to superlative purchase experience and after-market service support.

We are confident that our global expertise, coupled with the strong presence of our distributor partners and customer-centric focus, will help us establish our products in this exciting market and will help us reach a wide customer-base."

Tata Motors in association with SPA Elsecom has set up dealerships at Algiers and Oran, with further plans underway to establish 10 additional sales and service centers, to cover important regions, by the end of this year.

The range being introduced is a perfect combination of modern aesthetics and sound suspension, skillfully designed to provide customers with best-in-class vehicle experience. They are all equipped with safety features of ABS and dual airbags and a host of comfort and convenience features.

The Vista and Manza offer best-in-class warranty of 5 years / 100,000 km. Customer-centric initiatives for an enriched experience include 24-hours parts guarantee and 5-year free roadside assistance.

Tata Motors began its international journey in 1961 and today the company has presence in various countries across Europe, Latin America, Africa, Russia, Middle East, Asia and lately Australia. Algeria has been ear-marked as a focus market in the Tata Motors global strategy.

Honda Sets Monthly Records for Automobile Production Worldwide, Overseas, in North America, Asia and China

August 28, 2014 – Honda Motor Co., Ltd. today announced a summary of automobile production, Japanese domestic sales, and export results for the month of July 2014.

Worldwide Production

		July 2014		Year-to-Date Total (Jan. - Jul. 2014)
		Units	vs.'13	Units	vs.'13
	Japan	84,898	+27.9%	608,901	+46.0%
	Outside of Japan	278,599*	+2.2%	2,041,976	+2.5%
Worldwide Total		363,497*	+7.2%	2,650,877	+10.0%

* Record high for the month of July

Production Outside of Japan

		July 2014		Year-to-Date Total (Jan. - Jul. 2014)
		Units	vs.'13	Units	vs.'13
	North America	129,994*	+1.8%	1,031,322	-1.0%
	(USA)	89,020	-4.5%	738,947	-2.8%
	Europe	10,036	-16.4%	79,417	-4.6%
	Asia	128,593*	+5.2%	849,902	+9.8%
	(China)	77,272*	+14.2%	510,830	+26.1%
	Others	9,976	-6.3%	81,335	-13.3%
Overseas Total		278,599*	+2.2%	2,041,976	+2.5%

* Record high for the month of July

Production in Japan for the month of July 2014 experienced a year-on-year increase for the 11th consecutive month (since September 2013).

Production in regions outside of Japan experienced a year-on-year increase for the sixth consecutive month (since February 2014), setting record high production for the month of July. This includes record high production for the month of July in North America, Asia and China.

Production worldwide experienced a year-on-year increase for the 12th consecutive month (since August 2013), setting record high production for the month of July.

Sales in the Japanese Market

Vehicle type		July 2014		Year-to-Date Total (Jan. - Jul. 2014)
		Units	vs.'13	Units	vs.'13
	Registrations	39,733	+65.5%	291,087	+61.9%
	Mini-Vehicles	31,238	-6.4%	260,128	+5.9%
Honda Brand Total		70,971	+23.7%	551,215	+29.6%

Total domestic automobile sales in the Japanese market for the month of July 2014 experienced a year-on-year increase for the 12th consecutive month (since August 2013).

New vehicle registrations experienced a year-on-year increase for the 11th consecutive month (since September 2013).

Sales of mini-vehicles experienced a year-on-year decrease for the first time in two months (since May 2014).

<Vehicle registrations - excluding mini-vehicles>
Fit was the industry's third best-selling car among new vehicle registrations for the month of July 2014 with sales of 16,636 units. VEZEL was the industry's sixth best-selling car with sales of 11,567 units.

<Mini vehicles - under 660cc>
N-BOX was the industry's second best-selling car in the mini-vehicle category for the month of July 2014 with sales of 14,634 units. N-WGN was the industry's fourth best-selling car with sales of 11,246 units.

Exports from Japan

		July 2014		Year-to-Date Total (Jan. - Jul. 2014)
		Units	vs.'13	Units	vs.'13
	North America	854	-89.7%	7,697	-86.3%
	(USA)	737	-91.0%	7,384	-86.5%
	Europe	212	-68.1%	2,133	-37.2%
	Asia	762	+24.7%	4,125	-26.9%
	Others	926	-13.1%	5,445	-49.8%
Total		2,754	-74.1%	19,400	-74.4%

Total exports from Japan for the month of July 2014 experienced a year-on-year decrease for the ninth consecutive month (since November 2013).

Mercedes Benz India to hike prices by up to 2.5% from September

German luxury car-maker Mercedes-Benz India will hike prices of its products by up to 2.5 per cent from next month in the country to partially offset rising input costs and high exchange rate.

The quantum of price increase would be up to 2.5 per cent depending upon the model range, effective from September 1, Mercedes-Benz India said in a statement.

"Rising input costs coupled with other factors like continued high exchange rate have been impacting the bottom-line, making a price revision inevitable," it added.

Mercedes Benz sells a range of luxury cars and sports utility vehicles in India, including compact cars A Class and B class, sedans C Class, E Class and S Class and G63 AMG, priced between Rs 26.19 lakh and Rs 1.85 crore.

Commenting on the development, Mercedes-Benz India Managing Director & CEO Eberhard Kern said the company had decided to upwardly revise the prices of some of its models given the rising input costs and continued high exchange rate.

"Our aim remains to grow sustainably in the market in the long-term and keep creating new benchmarks in modern luxury for our customers," Kern added.

Maruti Suzuki India launches Alto 800 Maximum

To mark yet another feat in sales, Maruti Suzuki India launched Alto 800 Maximum. This time Maruti Suzuki is celebrating the sale 25 lakh Altos since its launch.

The Alto Maximum is a limited edition model and will carry benefits of up to Rs 66,666 in form of accessories and goodies. The extras that go into the car are a new music system, keyless entry, rear roof spoiler, leather seat covers, side moldings and new graphic design on the body, marking its limited numbers on the exterior.

Under the hood, everything remains unchanged. The power comes from F8D 796 cc, three-cylinder petrol engine which produces a maximum power of 48 PS and maximum torque of 69 Nm mated with a 5-speed manual transmission. The company also offers optional CNG kit on the limited edition.

Maruti is expected to set a price tag higher by a few thousands on the limited edition Alto 800 variants than their regular counterparts. Even though there is nothing very special about Alto 800 Maximum’s features but getting all these features from the company and that too at a discounted price is for sure an extra bonus for the customers.

Maruti Suzuki Alto has remained one of the best-sellers in the Indian market since its launch way back in 2000. Even though many companies tried to enter the low-cost entry level segment in India, Maruti remained the first choice for many buyers, especially the first-time buyers since many years. The Alto currently competes with the likes of Hyundai Eon, Tata Nano, Datsun Go in the market but remains unprecedented by the presence of such cars in the market.

In the past, Maruti has launched many limited edition models to mark their achievements and the Alto 800 Maximum was launched on the similar lines

Testing of new Right-hand-drive Mustang Begins

For the first time, a right-hand-drive Mustang will roll off a Ford assembly line when global production begins. The addition of a right-hand-drive Mustang to Ford’s line-up of global vehicles will allow the iconic pony car to be exported to more than 25 right-hand-drive markets around the world, including the United Kingdom, Australia and South Africa.

Mustang engineers recently finished construction of the first right-hand-drive sixth-generation Mustang. The prototype Mustang will be used to conduct various development tests in preparation for the car’s entry into the global market in the coming months.

While the USA is the largest market for Mustang, with more than 9.2 million sales since the car’s debut in 1964, more than 161,000 Mustangs have been sold outside of North America in that time. In 2012 alone, more than 4,000 Mustangs were sold in 35 countries outside of North America, ranging from the United Arab Emirates to Chile to the Philippines.

While Mustang has more than 100 fan clubs around the globe, and was recently voted “Europe’s Most Wanted Classic Car” by AutoScout24, bringing a right-hand-drive Mustang to market will allow more enthusiasts to experience the car than ever before.

Mustang is the newest member of a very exclusive club – vehicles in continuous production for 50 years. The car has a worldwide base of fans, including more than 7.6 million on Facebook – the most of any vehicle nameplate. From the beginning, Mustang’s unique combination of style, performance and affordability established an entirely new class of sporty cars, and it has led the segment ever since.

The sixth-generation Mustang goes on sale in the USA this autumn and in the UK in 2015, and will eventually be available in more than 110 countries worldwide

The rumours of Ford looking to launch the Mustang in India, come 2015, seem to be possible after all.

Exclusive - New XE to be Jaguar's smartcar

Jaguar is planning a BMW M3-beating high performance version of its forthcoming XE Saloon, Auto Express can reveal.

It will use the supercharged 5.0-litre V8 from the F-Type S roadster tuned to 489bhp to enable it to sprint from 0-62mph in around four seconds and go on to an electronically limited top speed of 155mph.

JLR’s recently formed Special Vehicle Operations division will prepare the car and it’s tipped to wear the company’s new SVR performance badge.

Set to arrive by early 2016 for around INR 30-40 lakhs, ex-Showroom, the XE SVR will also use the firm’s 8-speed automatic gearbox only it will be programmed to offer faster shifts than in the standard car.

There will be a raft of other upgrades too including larger performance brakes, stiffer and lower suspension and an electronically controlled limited slip rear differential for improved traction.

Styling changes will probably include a bespoke body kit with unique front bumper treatment and grille, side skirts, flared wheel arches and a redesigned rear bumper with integrated diffuser and quad tailpipes.

The car will get an active exhaust system to ensure the engine noise isn’t too intrusive while cruising but suitably loud under hard acceleration. Likely upgrades inside the cabin could include unique trims and colour schemes and body hugging sports seats.

Jaguar will extensively test the car on the Nurburgring in a bid to ensure it can deliver the necessary performance and handling to beat the 425bhp 3.0-litre bi-turbo BMW M3 and the forthcoming Mercedes C63 AMG which will uses a bi-turbo 4.0-litre V8.