indian auto industry update · maruti suzuki sales up 23.4% in april at 1.44 lakh units...
TRANSCRIPT
Indian Auto Industry Update
02 May 2017
IndustryMaruti Honda Toyota kick off new fiscal with a bang
Tata Motors domestic sales down 19 in April 2017
Govt explores buy and lease strategy to boost electric vehicle usage
Interviews amp FeaturesCars SUVs MUVs
Maruti Suzuki sales up 234 in April at 144 lakh units
Marutiamprsquos amplsquotwo-pedalamprsquo tech targets 3L units by 2020
Price is no longer king Maruti has a new strategy to score over rivals
Toyota Kirloskar Motor posts 52 growth in domestic sales in April 2017
Honda Cars India domestic sales up 381 in April 2017
Tata Motors passenger vehicles continue growth momentum in April 2017
GM workers stage protest over compensation package
Hyundai Motor India domestic sales up 57 in April
Nissan India posts 39 sales growth in April 2017
General Motors to launch new Chevrolet Beat in India in June
Luxury CarsCommercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units
Construction amp Agri MachineryEscorts Agri Machinery domestic sales up 18 in April
23 WheelersRoyal Enfield registers 25 growth in April 2017 sells 60142 units
Hero MotoCorp hikes prices by up to Rs 2200
Yamaha Motor India sells 68827 units in April 2017
Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units
BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit
March-end discounts to impact 2wheeler OEMamprsquos Q4 earnings ICRA
Volume growth to keep TVS Motors valuations high
E-BikesComponents
Foundry industry seeks government support to tackle growing imports
Allied IndustriesCeat performance in the March quarter skids on higher material costs
Emissions EnvironmentFinance amp Insurance
Shriram Transport Finance a year of single digits
Oil Lubricants amp Alternative FuelsIGL acquires two steel pipelines from GAIL
Oil slips below $52 as US drilling China worries weigh
News MagazinesBMW K 1600 GTL an overview
BMW S 1000 Series An overview
International NewsOpel to build new Corsa model with Peugeot technology
US to probe Japanese German automakers over alleged patent violations
Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle
Petrol variant of Maserati Levante S SUV launched in UK
Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone
BMW Designworks amp Shell collaborates in hydrogen refueling technology
Elon Musk teases self-driving truck other future plans at TED talk
Your keyless car can be hacked for as low as $20
EconomyEight core industries output up 5 percent in March 2017
Closing
Industry
Maruti Honda Toyota kick off new fiscal with a bang Sharmistha MukherjeeThe Economic Times (Web amp Print Edition)
New Delhi After crossing the three-million sales milestone last year demand for passenger vehicles seems to have taken off on astrong note this fiscal with most carmakers that released monthly sales data on Monday reporting robust double-digit growthnumbers for April Amid expectations of strong economic growth in the coming months predictions of a normal monsoon and asurging stock market passenger vehicle sales rose around 15 to 278145 units last month based on the numbers available
There was positive news on the broader macroeconomic front as well The core sector grew 5 in March accelerating rapidly from1 in the preceding month on account of a favourable base effect and an increase in output of coal and steel More importantly thisbucked the trend of the past two months auguring well for overall economic growth Core sector growth for the year ended Marchhit a five-year high registering a growth rate of 45 over the previous year
With regard to Aprilamprsquos car sales companies with new launches continued to do particularly well
Wholesale volumes were buoyed by market leader Maruti Suzuki which registered a monthly sales high of 144492 units Domesticsales rose 234 from 117045 units sold in year earlier This eclipsed the previous record of 137321 units in the domestic marketin September 2016
Maruti Suzuki which is sitting on an order backlog of around 150000 units for the Baleno and Brezza models is increasingproduction to meet demand
ampldquoWith the Gujarat plant coming onstream we will have more capacity at handamprdquo RS Kalsi executive director formarketing and sales told ET recently ampldquoWe are working towards ramping up production so that we can deliver products fasterto our customers Our production has steady demand we expect demand to remain strong this year and are expecting to grow indouble-digits this yearamprdquo
While sales of small cars (Alto and WagonR) went up 219 to 38897 units those of compact cars (Swift Celerio Ignis DzireDzire Tour Baleno) rose 391 to 63584 units Ciaz sales grew 232 to 7024 units The company sold 20638 units of utilityvehicles Ertiga Brezza Gypsy and S-Cross an increase of 286 over 16044 units in the year-ago period Sales of lightcommercial vehicle Super Carry stood at 411 units
South Korean rival Hyundai also posted growth of 57 to sell 44758 units last month driven by demand for the new Xcent Grandi10 Elite i20 and Creta
Toyota Kirloskar Motor (TKM) increased its domestic wholesale numbers by 52 to 12948 units riding on the success of the newFortuner and the Innova Crysta
ampldquoCompared to last year when sales were affected in the NCR growth is coming in from all across the country this timearoundamprdquo said N Raja director TKM
The company said its robust growth owed much to the new Fortuner ampldquoThe new Fortuner has already sold more than 12200units in less than six months of its launch The Innova Crysta is bringing in sales of another 6000-odd unitsamprdquo Raja said TKMhas waiting lists of up to 45 days for the Fortuner and of up to 90 days on the Innova Crysta
Honda Cars also grew strongly on the back of new launches the compact SUV WR-V and flagship sedan City setting a record forthe month
ampldquoWe registered our highest-ever April numbers backed by strong demand for New City 2017 and Honda WR-Vamprdquo saidYoichiro Ueno president Honda Cars India ampldquoThe new fiscal year has begun on a positive note and we hope to continue the
growth momentumamprdquo
Honda Cars has received over 25000 bookings for the City and 12000 for the WR-V since launch
At Tata Motors volumes rose 23 to 12827 units thanks to its new models
BS-III VerdictampldquoWhile the industry faced shortterm headwinds following the BS-III verdict Tata Motors continued its robust salesperformance with a growth of 23 in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV TataHEXAamprdquo said Mayank Pareek president passenger vehicles business unit ampldquoWe have successfully completed thelaunch of Tata Tigor across the country and are delighted that it has been well received by our customers We hope to see thismomentum continue with an encouraging growth on the back of our strong product portfolioamprdquo
The Supreme Court said companies have to stop selling BS-III vehicles on March 31 which meant some companies were stuckwith inventory that conformed to the older emission norms
The April performance showed that the industry has shaken off the temporary dampening effect caused by demonetisation saidSridhar V partner Grant Thornton India LLP ampldquoI see the growth momentum picking up further as we move forward in the newfinancial yearamprdquo he said
ampldquoThe GST (goods and services tax) will improve efficiencies This coupled with rapid infrastructure development should helpthe passenger vehicles industry post healthy double-digit growth numbers in FY18amprdquo
GST which will subsume a number of state and central levies and turn India into a common market is expected to be rolled out onJuly 1httpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-honda-toyota-kick-off-new-fiscal-with-a-bangarticleshow58461722cmsMaruti Honda Toyota kick off new fiscal with a bangThe Hindu Business Line (Web amp Print Edition)httpwwwthehindubusinesslinecomeconomymaruti-honda-toyota-kick-off-new-fiscal-with-a-bangarticle9675607eceref=wl_newsCarmakers kick off new financial year with a bangThe Tribune (Web amp Print Edition)httpwwwtribuneindiacomnewsbusinesscarmakers-kick-off-new-financial-year-with-a-bang400681htmlCar sales zoom in AprilThe Telegraph (Web Edition)httpswwwtelegraphindiacom1170502jspbusinessstory_149262jspWQfk72OqBkgDomestic sales of auto majors zoom The Hindu (Web amp Print Edition)httpwwwthehinducomtodays-papertp-businessdomestic-sales-of-auto-majors-zoomarticle18349119eceCar sales start the new fiscal year on a healthy noteThe Times of India (Web amp Print Edition)httptimesofindiaindiatimescombusinessindia-businesscar-sales-start-the-new-fiscal-year-on-a-healthy-notearticleshow58462358cms Carmakers start the fiscal on a high most firms post strong sales in AprilThe Indian Express (Web amp Print Edition)httpindianexpresscomarticlebusinessbusiness-otherscarmakers-start-the-fiscal-on-a-high-most-firms-post-strong-sales-in-april-4636200Motown reports robust sales in AprilFinancial Chronicle (Web amp Print Edition)httpwwwmydigitalfccomnewsmotown-reports-robust-sales-april-032Motown shrugs off DeMo Maruti posts best-ever salesDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-motown-shrugs-off-demo-maruti-posts-best-ever-sales-2424539New models drive car sales in Aprilmint (Web Edition)httpwwwlivemintcomIndustryw1Y9TgR41M9BIZBOgQNIwNNew-models-drive-car-sales-in-AprilhtmlMaruti Honda Toyota kick off new fiscal with a bangDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-maruti-honda-toyota-kick-off-new-fiscal-with-a-bang-2424068Auto majors begin FY18 in top gear Maruti Tata Honda contribute the mostBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniescar-sales-zoom-over-16-in-april-117050100739_1htmlCar sales In April auto companies put pedal to metal Maruti Suzuki logs best-ever volume growthThe Financial Express (Web amp Print Edition)httpwwwfinancialexpresscomindustryin-april-auto-companies-put-pedal-to-metal-maruti-suzuki-logs-best-ever-volume-growth650068Car sales Maruti Honda Toyota Tata post double digit growth in aprilThe Pioneer (Web amp Print Edition)httpwwwdailypioneercombusinesscar-sales-maruti-honda-toyota--tata-post-double-digit-growth-in-aprilhtmlMaruti Honda Toyota kick off new fiscal year with a bangDeccan Herald (Web Edition)httpwwwdeccanheraldcomcontent609302maruti-honda-toyota-kick-offhtml
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Tata Motors domestic sales down 19 in April 2017 The Economic Times (Web Edition)
Mumbai Indian automotive manufacturer Tata Motorsamprsquo domestic sales of both commercial and passenger vehicles for April
2017 were at 28844 units lower by 19 percent over 35604 units in April 2016 informed the company in Bombay Stock Exchange(BSE) filing
Tata Motors passenger and commercial vehicle total sales (including exports) in April 2017 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
Tata Motors expects production wholesales and retails to pick up in May and June added the automaker
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched Hexa and Tigor
The Tata Tiago continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS IIIsales leading to the need for a higher quantity of BS IV stock for April sales The higher demand at short notice was not met inproduction as vendors struggled to meet with the higher demand especially in the MHCV segments
Moreover after the strong prebuying of BS III vehicles in March and the price increase of BS IV vehicles (especially in the MHCVand Buses at 8-10 percent) demand for BS IV vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis an unusual decline in exceptional circumstances
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 Russiahttpautoeconomictimesindiatimescomnewsindustrytata-motors-domestic-sales-down-19-in-april-201758460400Tata Motors sales decline 21 to 30972 units in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestata-motors-sales-decline-21-to-30972-units-in-aprilarticle9675437eceTata Motors registers 23 per cent growth in sales of passenger vehiclesThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesstata-motors-registers-23-per-cent-growth-in-sales-of-passenger-vehiclesarticleshow58462403cmsTata Motors sales decline 21 pc to 30972 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-tata-motors-sales-decline-21-pc-to-30972-units-in-april-2424008Tata Motors sales decline 21 at 30972 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniestata-motors-sales-decline-21-at-30-972-units-in-april-117050100728_1html
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Govt explores buy and lease strategy to boost electric vehicle usage Amrit Raj amp Utpal Bhaskarmint (Web amp Print Edition)
New Delhi The government is exploring a strategy to task a company with buying electric vehicles (EVs) in bulk and then leasingthem to companies such as taxi aggregators in an attempt to bring down the cost of such vehicles
The strategy is to encourage more manufacturers to make electric vehicles The number of electric vehicle purchases may rangebetween 200000 and 1 million
The government has been exploring the leasing model for electric vehicles Mint reported on 15 April
ampldquoThere is a lot of interest in this plan At least two companies each from the private sector and public sector space haveevinced interestamprdquo said a person involved with the governmentamprsquos electric vehicles push He declined to name the firms
SoftBank Group Corp chairman Masayoshi Son said in a statement in December that ANI Technologies Pvt Ltd which runscab-hailing service Ola in which the Japanese firm is an investor may introduce a fleet of 1 million electric cars in partnership withan electric vehicle maker and the government
ampldquoVolumes help in reducing costs We are also looking at improving km per kilowatt hour (kWh) and efficiency of electricvehicles in terms of motor tyres aero dynamics and lightweight materialamprdquo said the person quoted above
The National Democratic Alliance (NDA) government is exploring measures ranging from leasing of electric vehicles to transferringtechnology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centre for use inautomobiles It is also exploring a strategy that involves reducing the battery size to bring down electric vehicle prices
According to the business plan for electric autos and buses reviewed by Mint the battery cost is expected to be Rs18 per km withthe charging cost per km being Rs099
Abdul Majeed partner and national auto practice leader PricewaterhouseCoopers said ampldquoIt sounds like a good step aimed in
the direction of bringing some momentum to the sales of electric vehicles It will help build scale Once scale gets build rest of theissues such as infrastructure challenges etc will be taken care ofamprdquo
Shifting to electric vehicles will check pollution and reduce fuel imports Indiaamprsquos energy import bill is expected to rise fromaround $150 billion currently to $300 billion by 2030 The centre has set a target of 6 million electric vehicle sales by 2020
Queries emailed to the spokespersons for NITI Aayog department of heavy industry and ministries of road transport and highwaysand new and renewable energy on Sunday evening remained unanswered
The electric vehicle programme is slowly coming together The Economic Times newspaper on 25 April reported that Indian Instituteof Technology-Madras professor Ashok Jhunjhunwala will spearhead the governmentamprsquos electric vehicle programme
While Bharat Heavy Electricals Ltd (Bhel) Indiaamprsquos largest power generation equipment maker wants to manufacture electricvehicles such as buses cars two-wheelers and boats Power Grid Corp of India Ltd the power transmission utility responsible forestablishing green energy transmission corridors is considering setting up charging stations for electric vehicleshttpwwwlivemintcomIndustryGeHFZ5SdaliWD4ge3kTmqLGovt-explores-buy-and-lease-strategy-to-boost-electric-vehichtml
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Interviews amp Features
Cars SUVs MUVs
Maruti Suzuki sales up 234 in April at 144 lakh units The Economic Times (Web Edition)
New Delhi Indias top car manufacturer Maruti Suzuki India (MSIL) registered highest ever monthly wholesale in April 2017 at144492 units in the domestic market recording a growth of 234 over same month previous year the company said in a mediarelease In April last year MSIL had sold 117045 units
April 2017 has been the best month for Maruti Suzuki in terms of its domestic sales since September 2016 when the company sold137277 units
The mini segment consisting of Alto and Wagon R saw a total sales of 38897 units last month as compared to 31906 units in April2016 registering a 219 growth Mid-size sedan space dominated by Maruti Suzuki Ciaz saw a sales of 7024 units in domesticmarket
Utility vehicles dominated by Maruti Suzuki Vitara Brezza and other vehicles including S-cross Gypsy and Ertiga saw a total salesof 20638 units in April 2017 as against 16044 units same month last year
The compact space with cars like Maruti Suzuki Swift Maruti Suzuki Baleno Maruti Suzuki Ignis Dzire sold 63584 units registering39 growth over last year
Maruti Suzukis exports declined by 294 as the company exported 6732 units to its export markets in April 2017 as against 9524units in the same month last corresponding year
The company will launch the new generation of Maruti Suzuki Dzire on May 162017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmaruti-suzuki-reports-23-4-domestic-growth-in-april-2017-sells-over-1-44-lakh-units58455042Maruti sales rise 195 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesmaruti-sales-rise-195-in-aprilarticle9675163eceMaruti sales rise 195 to 151215 units in AprilThe Indian Express (Web Edition)httpindianexpresscomarticlebusinessmaruti-sales-rise-19-5-to-151215-units-in-april-4635298Maruti Suzuki India sees 195 per cent rise in total sales figures in April 2017Daily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-maruti-suzuki-india-sees-195-per-cent-rise-in-total-sales-figures-in-april-2017-from-same-time-2016-2424000Maruti Suzukiamprsquos domestic sales for April advance 23mint (Web Edition)httpwwwlivemintcomCompaniesYhOMSx4mpGRbz4kTYXDtMOMaruti-Suzukis-domestic-sales-for-April-advance-23htmlMaruti Suzuki India Ltd grows by 195 percent premium positioning improvingThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsmaruti-suzuki-india-ltd-grows-by-23-1-percent-premium-positioning-improving649009
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Marutiacirceurotrades acirceuro˜two-pedalacirceurotrade tech targets 3L units by 2020 Nandini Sen GuptaThe Times of India (Web Edition)
Chennai Car market leader Maruti Suzuki is betting big on the two-pedal technology and plans to offer variations of the technologyacross its entire model range The company ampmdash whose two-pedal technologies include AGS (auto gear shift) CVT(continuously variable transmission) and AT (automatic transmission) ampmdash is targeting sales of 300000 units from thistechnology by 2020
Maruti expects to nearly double its two-pedal technology model sales from 79000 units in FY-16-17 to 150000 units in FY17-18said company officials
Going forward Marutis endeavour is to bring one of the two-pedal technologies to its models across segments in some formeither auto gear shift CVT or AT Marutis executive director RampD C V Raman said The car maker has been offering at least oneof the three versions of the two-pedal technology in each of its new launches with both Ignis and the Dzire upgrade offering AGSoptions in both petrol and diesel and Baleno offering CVT
Marutis two pedal volumes have grown from 30000 units in FY 14-15 to 54000 units in FY 15-16 to 79000 units in FY 2016-17 InMarutis current portfolio the two pedal technologies include AGS in Celerio Wagon R Alto K-10 Ignis and the new DZire CVT inBaleno and AT in DZire and Ertiga In models where two-pedal options are available the technologys share has grown from 5 inFY14-15 to 11 in FY16-17 as Maruti offers one of the three two-pedal versions on more models
Given its affordability and the fact that it compares well with manual transmission on mileage AGS is the most popular option of thethree versions
Our experience on AGS has been quite positive said a company spokesperson It accounts for over 40 sales in CelerioWagon R 13 Alto 15 Ignis 26 Besides of the total two pedal technology sold in India 54 comes from AGS However insome models the CVT works better as in Baleno while in others AT works better like Ertiga and Ciaz
Top ten markets alone contribute 44 of the two pedal technology sales industry wide making it a strictly urban phenomenon fornow So Marutis effort will be to democratise these technologies With enhanced awareness we expect more first time buyers andrural penetration said the Maruti spokesperson
In February 2014 Maruti introduced AGS with the Celerio hatchback
Till date Celerio AMT vehicles contribute over 60 to total Celerio saleshttptimesofindiaindiatimescombusinessindia-businessmarutis-two-pedal-tech-targets-3l-units-by-2020articleshow58466345cms
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Price is no longer king Maruti has a new strategy to score over rivals Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Cars are no longer just about kitna deti hai (fuel efficiency) and therefore market leader Maruti Suzuki has changed itslaunch strategy Showcasing the vehicle weeks ahead of the launch without talking about the pricing and mileage is gettingimportant to communicate in details the evolving features and design to the target segment in a crowded car market
In December last year Maruti showcased its yet to be launched car Ignis just to talk at length about its positioning design safetyand entertainment features engine type and so on The detail on price and efficiency was left to be discussed at the launch eventwhich happened a month later
Companies usually open bookings for a car a couple of weeks before the launch However there is limited information and buzz inthe market about the car when bookings open Price the key deciding factor is also not known Showcasing the car andcommunicating about it before opening the booking helps in plugging most gaps and leaves one blank information- the price- forthose looking to book A preview before launch also helps in building buyer appetite and takes away volumes from competition
ampldquoMarketing is changing day by day Earlier it used to be a linear process you identified the model went for the launch anddeclared price to sell in the market Now our approach is multi dimensional Before the launch you need to show it to select peoplefor feedback go to digital media and create the buzz This builds a sense of anticipation among customers about the model Peoplestill ask for mileage but certainly it is not the only consideration nowamprdquo said R S Kalsi executive director (marketing and sales)at Maruti Suzuki
The company which commands a 47 per cent share in domestic market has repeated the Ignis strategy for Dzire the full modelchange of its best selling compact sedan Swift Dzire Last week the company did a preview event for Dzire and sought to create abuzz while communicating about its features and design The launch when price will be announced is on May 16
Experts said the agenda of a launch event gets largely hijacked by the price announcement and its comparison with other models inthe segment Therefore it makes sense to communicate about the style features and positioning before the price launch
Rakesh Srivastava director (sales amp marketing) at Hyundai second largest player in domestic market said every manufacturer hasits own strategy ampldquoAs far as Hyundaiamprsquos strategy is concerned we spend more time in preparing a launch afterdeveloping the product A good product and effective communication strategy gets volumes When we launched Creta in 2015 wetook multiple steps before the launch Initially the image renderings were revealed then we announced the variants along withfeatures and a preview was done in Chennai So we are trend setters thereamprdquo he saidhttpwwwbusiness-standardcomarticlecompaniesmaruti-drives-new-launch-strategy-to-score-over-competition-117050100180_1html
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Toyota Kirloskar Motor posts 52 growth in domestic sales in April 2017 The Economic Times (Web Edition)
Bangalore Toyota Kirloskar Motor the Indian arm of Japanese automotive manufacturer Toyota Motor Corporation has registered52 percent sales growth in domestic market and sold a total of 12948 units in the month of April 2017 informed the company in apress statement
The automaker has exported 1109 units of the Etios series in April 2017 as against 978 units during April 2016 thereby witnessinggrowth of 13 percent
The company has attributed this growth to the overwhelming response the new Fortuner has received In less than six months of itslaunch the New Fortuner has sold more than 12200 units
The new Corolla Altis has also received a very good response In just one month of its launch new Corolla Altis has been a hit withIndian customers and has clocked a growth of over 75 thereby retaining its position as segment leader
N Raja Director amp Sr Vice President Sales amp Marketing Toyota Kirloskar Motor said ampldquoWe have been able to sustain arobust growth in the month of April 2017 This growth has been propelled by the overwhelming response the new Fortuner hasreceived Ever since its launch in India in 2009 the Fortuner has been an undisputed segment leader
The launch of the new Fortuner has helped us up this ante as the new Fortuner has already sold more than 12200 units in lessthan 6 months of its launch Considering the segment in which the Fortuner is present this is a great achievement for us
We are delighted to share that New Corolla Altis has received great response from customers in just one month of its launch inMarch and has contributed towards the monthly sales growth added N Rajahttpautoeconomictimesindiatimescomnewsindustrytoyota-kirloskar-motor-posts-52-growth-in-domestic-sales-in-april-201758455344Toyota Kirloskar sales surge 48 to 14057 units in April The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestoyota-kirloskar-april-salesarticle9675212eceToyota Kirloskar sales surge 48 to 14057 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-toyota-kirloskar-sales-surge-48-to-14057-units-in-apr-2423738Toyota India posts growth of 52 percent Fortuner and Corolla Altis key contributorsThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newstoyota-india-posts-growth-of-52-percent-fortuner-and-corolla-altis-key-contributors649295
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Honda Cars India domestic sales up 381 in April 2017 The Economic Times (Web Edition)
New Delhi Indian arm of Japanese car manufacturer Honda has registered monthly domestic sales of 14480 units in April 2017against 10486 units in corresponding month last year registering a growth of 381 percent informed the company in a statement
The company exported 442 units during April 2017 thereby registering cumulative sales of 14922 units
Honda Cars India also said that it has received over 25000 bookings for Honda City since its launch in mid-February and 12000bookings for WR-V since its launch in mid-March
Yoichiro Ueno President and CEO Honda Cars India said ampldquoHCIL sales continue to grow positively and we registered ourhigher ever April numbers backed by strong demand for New City 2017 and Honda WR-V The new fiscal year has begun on apositive note and we hope to continue the growth momentumamprdquo
Honda City remained the companys best selling car with 5948 units delivered to customers and WR-V acquiring the secondposition with 3266 units sold in April 2017 Honda Jazz and Honda Amaze sold 2061 units and 2029 units respectively
Honda BR-V sold 701 units and Brio sales stood at 438 units during April 2017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarshonda-cars-india-domestic-sales-up-38-1-in-april-201758460717Honda Cars India Apr domestic sales go up 38 to 14480 unitsThe Hindu (Web Edition)httpwwwthehinducombusinesshonda-cars-india-domestic-sales-go-up-38-to-14480-unitsarticle18347304eceHonda Cars India Apr domestic sales go up 38 to 14480 unitsDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-honda-cars-india-apr-domestic-sales-go-up-38-to-14480-units-2424021
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Tata Motors passenger vehicles continue growth momentum in April 2017 ANI
See this story in Daily News amp Analysis (Web Edition)
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched lifestyle UV Tata HEXA and its latestStyleback the Tata TIGOR
The Tata TIAGO continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS3sales leading to the need for a higher quantity of BS4 stock for April sales
The higher demand at short notice was not met in production as vendors struggled to meet with the higher demand especially inthe MHCV segments Moreover after the strong pre-buying of BS3 vehicles in March and the price increase of BS4 vehicles(especially in the MHCV and Buses at 8-10percent) demand for BS4 vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis 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 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
The companys domestic sales of Tata commercial and passenger vehicles for April 2017 were at 28844 units lower by 19percent over 35604 units in April 2016
Commenting on the sales performance Mayank Pareek president Passenger Vehicles Business Unit Tata Motors said Whilethe industry faced short-term headwinds further to the BS III verdict Tata Motors continued its robust sales performance with agrowth of 23 percent in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata HEXA
We have successfully completed the launch of Tata TIGOR across the country and are delighted that it has been well received byour customers We hope to see this momentum continue with an encouraging growth on the back of our strong product portfoliohe addedhttpwwwdnaindiacommoneyreport-tata-motors-passenger-vehicles-continue-growth-momentum-in-april-2017-2424005
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GM workers stage protest over compensation package The Hindu Business Line (Web amp Print Edition)
Ahmedabad The workers of the Indian arm of American car major General Motors India on Monday staged a symbolic protest atthe Halol plant which was permanently closed by the company recently
The workers protested against the companys transfer policy and the compensation package that was offered after GM decided toconsolidate its manufacturing activity at its second plant in Talegaon Maharashtra
The protest sit-in was held in the morning on Monday
What more ironic it can get than the workers protesting at the gates of the company on the Labour Day itself There is nocommunication from the company on our demands Now the only hope is the state government The next course of action will bedecided in a day or two said Rachit Soni President General Motors Employee Union
Soni claimed that out of the 600-odd workers over 300 workers attended the protest sit-in with placards Out of the over 1000workers nearly 50 had accepted the financial package of up to Rs 10 lakh while over 350 had opted for a transfer to Talegaon lastOctober
According to the workersamprsquo sources about 400 more are likely to accept the transfer to the Talegaon plant Meanwhile theState government officials informed that the Union had approached the Gujarat High Court seeking State governments interventionafter the talks with management failed The government has assured to examine the matter under the appropriate provisions of lawhttpwwwthehindubusinesslinecomtodays-papertp-newsgm-workers-stage-protest-over-compensation-packagearticle9675663eceGM Halol workers continue to protest even after plant shuts downBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesgm-halol-workers-continue-to-protest-even-after-plant-shuts-down-117050100608_1html
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Hyundai Motor India domestic sales up 57 in April The Economic Times (Web Edition)
New Delhi Indias second largest carmaker Hyundai Motor has recorded 57 percent growth in its domestic sales for the month ofApril 2017 and delivered 44758 units to its customers informed the company in a press statement The automaker sold 42351
units during April 2016
Hyundai Motor India (HMIL) has exported 11610 units in April 2017 as against 12069 units during April 2016 thereby experiencingde-growth of 38 percent Its cumulative sales for the month went up by 36 percent at 56368 units
Rakesh Srivastava Director - Sales and Marketing HMIL said Hyundai with volume of 44758 units continued its growthmomentum on a strong base of last year driven by tremendous response for the All New Global Stylish Family Sedan Xcent andcontinued strong performance of volume driving aspirational brands Grand i10 Elite i20 and Creta
Hyundai Motor India currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent VernaCreta Elantra Tucson and Santa Fe It currently exports to around 87 countries across Africa Middle East Latin America Australiaand the Asia Pacific
HMIL currently has 477 dealers and over 1250 service points across Indiahttpautoeconomictimesindiatimescomnewsindustryhyundai-motor-india-domestic-sales-up-5-7-in-april58457068Hyundai Motor sales up 36The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompanieshyundai-motor-sales-up-36article9675255ece
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Nissan India posts 39 sales growth in April 2017 The Economic Times (Web Edition)
New Delhi The Indian arm of Japanese automobile manufacturer Nissan Motor Companys wholesale deliveries reported anincrease of 39 percent in April 2017 to 4217 vehicles The company in a statement has credited this growth in sales to customerdemand for the Datsun redi-GO and the recently introduced new Nissan Terrano
Nissan Motor Indias 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 ampldquoNissan is proud of the performance of the recently launched new Terrano and thecontinued confidence that customers are showing in the Datsun redi-GO Across India we are strengthening our footprintintroducing products and services that customers 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 and will move the company closer to its goal of becoming amajor force in India with a 5 percent market share by 2020
Nissan together with its global alliance partner Renault have set up a manufacturing plant and a Research amp Development Centrenear Chennai Nissan in India has a portfolio of two brands Nissan and Datsunhttpautoeconomictimesindiatimescomnewsindustrynissan-india-posts-39-sales-growth-in-april-201758455499Nissan sales jump 39 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesnissan-sales-jump-39-in-aprilarticle9675182eceNissan India sales rise 39 to 4217 units in AprilFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompaniesnissan-india-sales-rise-39-4217-units-april-004Nissan India sales rise 39 to 4217 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-nissan-india-sales-rise-39-to-4217-units-in-april-2423732Terrano Datsun Redi-Go drive sales for Nissan India up 39 in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-terrano-datsun-redi-go-drive-sales-for-nissan-india-up-39-in-april-2423702
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General Motors to launch new Chevrolet Beat in India in June Daily News amp Analysis (Web Edition)
General Motors is slated to launch the new generation Chevrolet Beat in India in the third week of June according to reports TheBeat previously showcased in the Auto Expo 2016 will only be receiving cosmetic changes no mechanical ones
The news comes after General Motors halted production at its first Indian plant in Halol Gujarat as part of consolidation ofmanufacturing operations in the country All manufacturing operations will now be operated from its Talegaon plant in Maharashtra
In terms of design the new Beat will have a re-designed bumper that will boast chrome accents on the front grille new fog lamps aswell as re-designed head lamps The new car will also be given a redesigned bumper with revised tail lights
The engine of the Indian Beat will be based off the M300 platform of the outgoing model With a 10 litre 3-cylinder petrol engine or
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
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Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
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Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
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23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
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Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
Top
Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
Top
Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
Top
Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
Top
Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
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Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
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Closing
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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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Powered by Enablingbiz Esoluttions
BMW S 1000 Series An overview
International NewsOpel to build new Corsa model with Peugeot technology
US to probe Japanese German automakers over alleged patent violations
Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle
Petrol variant of Maserati Levante S SUV launched in UK
Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone
BMW Designworks amp Shell collaborates in hydrogen refueling technology
Elon Musk teases self-driving truck other future plans at TED talk
Your keyless car can be hacked for as low as $20
EconomyEight core industries output up 5 percent in March 2017
Closing
Industry
Maruti Honda Toyota kick off new fiscal with a bang Sharmistha MukherjeeThe Economic Times (Web amp Print Edition)
New Delhi After crossing the three-million sales milestone last year demand for passenger vehicles seems to have taken off on astrong note this fiscal with most carmakers that released monthly sales data on Monday reporting robust double-digit growthnumbers for April Amid expectations of strong economic growth in the coming months predictions of a normal monsoon and asurging stock market passenger vehicle sales rose around 15 to 278145 units last month based on the numbers available
There was positive news on the broader macroeconomic front as well The core sector grew 5 in March accelerating rapidly from1 in the preceding month on account of a favourable base effect and an increase in output of coal and steel More importantly thisbucked the trend of the past two months auguring well for overall economic growth Core sector growth for the year ended Marchhit a five-year high registering a growth rate of 45 over the previous year
With regard to Aprilamprsquos car sales companies with new launches continued to do particularly well
Wholesale volumes were buoyed by market leader Maruti Suzuki which registered a monthly sales high of 144492 units Domesticsales rose 234 from 117045 units sold in year earlier This eclipsed the previous record of 137321 units in the domestic marketin September 2016
Maruti Suzuki which is sitting on an order backlog of around 150000 units for the Baleno and Brezza models is increasingproduction to meet demand
ampldquoWith the Gujarat plant coming onstream we will have more capacity at handamprdquo RS Kalsi executive director formarketing and sales told ET recently ampldquoWe are working towards ramping up production so that we can deliver products fasterto our customers Our production has steady demand we expect demand to remain strong this year and are expecting to grow indouble-digits this yearamprdquo
While sales of small cars (Alto and WagonR) went up 219 to 38897 units those of compact cars (Swift Celerio Ignis DzireDzire Tour Baleno) rose 391 to 63584 units Ciaz sales grew 232 to 7024 units The company sold 20638 units of utilityvehicles Ertiga Brezza Gypsy and S-Cross an increase of 286 over 16044 units in the year-ago period Sales of lightcommercial vehicle Super Carry stood at 411 units
South Korean rival Hyundai also posted growth of 57 to sell 44758 units last month driven by demand for the new Xcent Grandi10 Elite i20 and Creta
Toyota Kirloskar Motor (TKM) increased its domestic wholesale numbers by 52 to 12948 units riding on the success of the newFortuner and the Innova Crysta
ampldquoCompared to last year when sales were affected in the NCR growth is coming in from all across the country this timearoundamprdquo said N Raja director TKM
The company said its robust growth owed much to the new Fortuner ampldquoThe new Fortuner has already sold more than 12200units in less than six months of its launch The Innova Crysta is bringing in sales of another 6000-odd unitsamprdquo Raja said TKMhas waiting lists of up to 45 days for the Fortuner and of up to 90 days on the Innova Crysta
Honda Cars also grew strongly on the back of new launches the compact SUV WR-V and flagship sedan City setting a record forthe month
ampldquoWe registered our highest-ever April numbers backed by strong demand for New City 2017 and Honda WR-Vamprdquo saidYoichiro Ueno president Honda Cars India ampldquoThe new fiscal year has begun on a positive note and we hope to continue the
growth momentumamprdquo
Honda Cars has received over 25000 bookings for the City and 12000 for the WR-V since launch
At Tata Motors volumes rose 23 to 12827 units thanks to its new models
BS-III VerdictampldquoWhile the industry faced shortterm headwinds following the BS-III verdict Tata Motors continued its robust salesperformance with a growth of 23 in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV TataHEXAamprdquo said Mayank Pareek president passenger vehicles business unit ampldquoWe have successfully completed thelaunch of Tata Tigor across the country and are delighted that it has been well received by our customers We hope to see thismomentum continue with an encouraging growth on the back of our strong product portfolioamprdquo
The Supreme Court said companies have to stop selling BS-III vehicles on March 31 which meant some companies were stuckwith inventory that conformed to the older emission norms
The April performance showed that the industry has shaken off the temporary dampening effect caused by demonetisation saidSridhar V partner Grant Thornton India LLP ampldquoI see the growth momentum picking up further as we move forward in the newfinancial yearamprdquo he said
ampldquoThe GST (goods and services tax) will improve efficiencies This coupled with rapid infrastructure development should helpthe passenger vehicles industry post healthy double-digit growth numbers in FY18amprdquo
GST which will subsume a number of state and central levies and turn India into a common market is expected to be rolled out onJuly 1httpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-honda-toyota-kick-off-new-fiscal-with-a-bangarticleshow58461722cmsMaruti Honda Toyota kick off new fiscal with a bangThe Hindu Business Line (Web amp Print Edition)httpwwwthehindubusinesslinecomeconomymaruti-honda-toyota-kick-off-new-fiscal-with-a-bangarticle9675607eceref=wl_newsCarmakers kick off new financial year with a bangThe Tribune (Web amp Print Edition)httpwwwtribuneindiacomnewsbusinesscarmakers-kick-off-new-financial-year-with-a-bang400681htmlCar sales zoom in AprilThe Telegraph (Web Edition)httpswwwtelegraphindiacom1170502jspbusinessstory_149262jspWQfk72OqBkgDomestic sales of auto majors zoom The Hindu (Web amp Print Edition)httpwwwthehinducomtodays-papertp-businessdomestic-sales-of-auto-majors-zoomarticle18349119eceCar sales start the new fiscal year on a healthy noteThe Times of India (Web amp Print Edition)httptimesofindiaindiatimescombusinessindia-businesscar-sales-start-the-new-fiscal-year-on-a-healthy-notearticleshow58462358cms Carmakers start the fiscal on a high most firms post strong sales in AprilThe Indian Express (Web amp Print Edition)httpindianexpresscomarticlebusinessbusiness-otherscarmakers-start-the-fiscal-on-a-high-most-firms-post-strong-sales-in-april-4636200Motown reports robust sales in AprilFinancial Chronicle (Web amp Print Edition)httpwwwmydigitalfccomnewsmotown-reports-robust-sales-april-032Motown shrugs off DeMo Maruti posts best-ever salesDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-motown-shrugs-off-demo-maruti-posts-best-ever-sales-2424539New models drive car sales in Aprilmint (Web Edition)httpwwwlivemintcomIndustryw1Y9TgR41M9BIZBOgQNIwNNew-models-drive-car-sales-in-AprilhtmlMaruti Honda Toyota kick off new fiscal with a bangDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-maruti-honda-toyota-kick-off-new-fiscal-with-a-bang-2424068Auto majors begin FY18 in top gear Maruti Tata Honda contribute the mostBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniescar-sales-zoom-over-16-in-april-117050100739_1htmlCar sales In April auto companies put pedal to metal Maruti Suzuki logs best-ever volume growthThe Financial Express (Web amp Print Edition)httpwwwfinancialexpresscomindustryin-april-auto-companies-put-pedal-to-metal-maruti-suzuki-logs-best-ever-volume-growth650068Car sales Maruti Honda Toyota Tata post double digit growth in aprilThe Pioneer (Web amp Print Edition)httpwwwdailypioneercombusinesscar-sales-maruti-honda-toyota--tata-post-double-digit-growth-in-aprilhtmlMaruti Honda Toyota kick off new fiscal year with a bangDeccan Herald (Web Edition)httpwwwdeccanheraldcomcontent609302maruti-honda-toyota-kick-offhtml
Top
Tata Motors domestic sales down 19 in April 2017 The Economic Times (Web Edition)
Mumbai Indian automotive manufacturer Tata Motorsamprsquo domestic sales of both commercial and passenger vehicles for April
2017 were at 28844 units lower by 19 percent over 35604 units in April 2016 informed the company in Bombay Stock Exchange(BSE) filing
Tata Motors passenger and commercial vehicle total sales (including exports) in April 2017 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
Tata Motors expects production wholesales and retails to pick up in May and June added the automaker
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched Hexa and Tigor
The Tata Tiago continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS IIIsales leading to the need for a higher quantity of BS IV stock for April sales The higher demand at short notice was not met inproduction as vendors struggled to meet with the higher demand especially in the MHCV segments
Moreover after the strong prebuying of BS III vehicles in March and the price increase of BS IV vehicles (especially in the MHCVand Buses at 8-10 percent) demand for BS IV vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis an unusual decline in exceptional circumstances
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 Russiahttpautoeconomictimesindiatimescomnewsindustrytata-motors-domestic-sales-down-19-in-april-201758460400Tata Motors sales decline 21 to 30972 units in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestata-motors-sales-decline-21-to-30972-units-in-aprilarticle9675437eceTata Motors registers 23 per cent growth in sales of passenger vehiclesThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesstata-motors-registers-23-per-cent-growth-in-sales-of-passenger-vehiclesarticleshow58462403cmsTata Motors sales decline 21 pc to 30972 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-tata-motors-sales-decline-21-pc-to-30972-units-in-april-2424008Tata Motors sales decline 21 at 30972 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniestata-motors-sales-decline-21-at-30-972-units-in-april-117050100728_1html
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Govt explores buy and lease strategy to boost electric vehicle usage Amrit Raj amp Utpal Bhaskarmint (Web amp Print Edition)
New Delhi The government is exploring a strategy to task a company with buying electric vehicles (EVs) in bulk and then leasingthem to companies such as taxi aggregators in an attempt to bring down the cost of such vehicles
The strategy is to encourage more manufacturers to make electric vehicles The number of electric vehicle purchases may rangebetween 200000 and 1 million
The government has been exploring the leasing model for electric vehicles Mint reported on 15 April
ampldquoThere is a lot of interest in this plan At least two companies each from the private sector and public sector space haveevinced interestamprdquo said a person involved with the governmentamprsquos electric vehicles push He declined to name the firms
SoftBank Group Corp chairman Masayoshi Son said in a statement in December that ANI Technologies Pvt Ltd which runscab-hailing service Ola in which the Japanese firm is an investor may introduce a fleet of 1 million electric cars in partnership withan electric vehicle maker and the government
ampldquoVolumes help in reducing costs We are also looking at improving km per kilowatt hour (kWh) and efficiency of electricvehicles in terms of motor tyres aero dynamics and lightweight materialamprdquo said the person quoted above
The National Democratic Alliance (NDA) government is exploring measures ranging from leasing of electric vehicles to transferringtechnology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centre for use inautomobiles It is also exploring a strategy that involves reducing the battery size to bring down electric vehicle prices
According to the business plan for electric autos and buses reviewed by Mint the battery cost is expected to be Rs18 per km withthe charging cost per km being Rs099
Abdul Majeed partner and national auto practice leader PricewaterhouseCoopers said ampldquoIt sounds like a good step aimed in
the direction of bringing some momentum to the sales of electric vehicles It will help build scale Once scale gets build rest of theissues such as infrastructure challenges etc will be taken care ofamprdquo
Shifting to electric vehicles will check pollution and reduce fuel imports Indiaamprsquos energy import bill is expected to rise fromaround $150 billion currently to $300 billion by 2030 The centre has set a target of 6 million electric vehicle sales by 2020
Queries emailed to the spokespersons for NITI Aayog department of heavy industry and ministries of road transport and highwaysand new and renewable energy on Sunday evening remained unanswered
The electric vehicle programme is slowly coming together The Economic Times newspaper on 25 April reported that Indian Instituteof Technology-Madras professor Ashok Jhunjhunwala will spearhead the governmentamprsquos electric vehicle programme
While Bharat Heavy Electricals Ltd (Bhel) Indiaamprsquos largest power generation equipment maker wants to manufacture electricvehicles such as buses cars two-wheelers and boats Power Grid Corp of India Ltd the power transmission utility responsible forestablishing green energy transmission corridors is considering setting up charging stations for electric vehicleshttpwwwlivemintcomIndustryGeHFZ5SdaliWD4ge3kTmqLGovt-explores-buy-and-lease-strategy-to-boost-electric-vehichtml
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Interviews amp Features
Cars SUVs MUVs
Maruti Suzuki sales up 234 in April at 144 lakh units The Economic Times (Web Edition)
New Delhi Indias top car manufacturer Maruti Suzuki India (MSIL) registered highest ever monthly wholesale in April 2017 at144492 units in the domestic market recording a growth of 234 over same month previous year the company said in a mediarelease In April last year MSIL had sold 117045 units
April 2017 has been the best month for Maruti Suzuki in terms of its domestic sales since September 2016 when the company sold137277 units
The mini segment consisting of Alto and Wagon R saw a total sales of 38897 units last month as compared to 31906 units in April2016 registering a 219 growth Mid-size sedan space dominated by Maruti Suzuki Ciaz saw a sales of 7024 units in domesticmarket
Utility vehicles dominated by Maruti Suzuki Vitara Brezza and other vehicles including S-cross Gypsy and Ertiga saw a total salesof 20638 units in April 2017 as against 16044 units same month last year
The compact space with cars like Maruti Suzuki Swift Maruti Suzuki Baleno Maruti Suzuki Ignis Dzire sold 63584 units registering39 growth over last year
Maruti Suzukis exports declined by 294 as the company exported 6732 units to its export markets in April 2017 as against 9524units in the same month last corresponding year
The company will launch the new generation of Maruti Suzuki Dzire on May 162017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmaruti-suzuki-reports-23-4-domestic-growth-in-april-2017-sells-over-1-44-lakh-units58455042Maruti sales rise 195 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesmaruti-sales-rise-195-in-aprilarticle9675163eceMaruti sales rise 195 to 151215 units in AprilThe Indian Express (Web Edition)httpindianexpresscomarticlebusinessmaruti-sales-rise-19-5-to-151215-units-in-april-4635298Maruti Suzuki India sees 195 per cent rise in total sales figures in April 2017Daily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-maruti-suzuki-india-sees-195-per-cent-rise-in-total-sales-figures-in-april-2017-from-same-time-2016-2424000Maruti Suzukiamprsquos domestic sales for April advance 23mint (Web Edition)httpwwwlivemintcomCompaniesYhOMSx4mpGRbz4kTYXDtMOMaruti-Suzukis-domestic-sales-for-April-advance-23htmlMaruti Suzuki India Ltd grows by 195 percent premium positioning improvingThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsmaruti-suzuki-india-ltd-grows-by-23-1-percent-premium-positioning-improving649009
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Marutiacirceurotrades acirceuro˜two-pedalacirceurotrade tech targets 3L units by 2020 Nandini Sen GuptaThe Times of India (Web Edition)
Chennai Car market leader Maruti Suzuki is betting big on the two-pedal technology and plans to offer variations of the technologyacross its entire model range The company ampmdash whose two-pedal technologies include AGS (auto gear shift) CVT(continuously variable transmission) and AT (automatic transmission) ampmdash is targeting sales of 300000 units from thistechnology by 2020
Maruti expects to nearly double its two-pedal technology model sales from 79000 units in FY-16-17 to 150000 units in FY17-18said company officials
Going forward Marutis endeavour is to bring one of the two-pedal technologies to its models across segments in some formeither auto gear shift CVT or AT Marutis executive director RampD C V Raman said The car maker has been offering at least oneof the three versions of the two-pedal technology in each of its new launches with both Ignis and the Dzire upgrade offering AGSoptions in both petrol and diesel and Baleno offering CVT
Marutis two pedal volumes have grown from 30000 units in FY 14-15 to 54000 units in FY 15-16 to 79000 units in FY 2016-17 InMarutis current portfolio the two pedal technologies include AGS in Celerio Wagon R Alto K-10 Ignis and the new DZire CVT inBaleno and AT in DZire and Ertiga In models where two-pedal options are available the technologys share has grown from 5 inFY14-15 to 11 in FY16-17 as Maruti offers one of the three two-pedal versions on more models
Given its affordability and the fact that it compares well with manual transmission on mileage AGS is the most popular option of thethree versions
Our experience on AGS has been quite positive said a company spokesperson It accounts for over 40 sales in CelerioWagon R 13 Alto 15 Ignis 26 Besides of the total two pedal technology sold in India 54 comes from AGS However insome models the CVT works better as in Baleno while in others AT works better like Ertiga and Ciaz
Top ten markets alone contribute 44 of the two pedal technology sales industry wide making it a strictly urban phenomenon fornow So Marutis effort will be to democratise these technologies With enhanced awareness we expect more first time buyers andrural penetration said the Maruti spokesperson
In February 2014 Maruti introduced AGS with the Celerio hatchback
Till date Celerio AMT vehicles contribute over 60 to total Celerio saleshttptimesofindiaindiatimescombusinessindia-businessmarutis-two-pedal-tech-targets-3l-units-by-2020articleshow58466345cms
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Price is no longer king Maruti has a new strategy to score over rivals Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Cars are no longer just about kitna deti hai (fuel efficiency) and therefore market leader Maruti Suzuki has changed itslaunch strategy Showcasing the vehicle weeks ahead of the launch without talking about the pricing and mileage is gettingimportant to communicate in details the evolving features and design to the target segment in a crowded car market
In December last year Maruti showcased its yet to be launched car Ignis just to talk at length about its positioning design safetyand entertainment features engine type and so on The detail on price and efficiency was left to be discussed at the launch eventwhich happened a month later
Companies usually open bookings for a car a couple of weeks before the launch However there is limited information and buzz inthe market about the car when bookings open Price the key deciding factor is also not known Showcasing the car andcommunicating about it before opening the booking helps in plugging most gaps and leaves one blank information- the price- forthose looking to book A preview before launch also helps in building buyer appetite and takes away volumes from competition
ampldquoMarketing is changing day by day Earlier it used to be a linear process you identified the model went for the launch anddeclared price to sell in the market Now our approach is multi dimensional Before the launch you need to show it to select peoplefor feedback go to digital media and create the buzz This builds a sense of anticipation among customers about the model Peoplestill ask for mileage but certainly it is not the only consideration nowamprdquo said R S Kalsi executive director (marketing and sales)at Maruti Suzuki
The company which commands a 47 per cent share in domestic market has repeated the Ignis strategy for Dzire the full modelchange of its best selling compact sedan Swift Dzire Last week the company did a preview event for Dzire and sought to create abuzz while communicating about its features and design The launch when price will be announced is on May 16
Experts said the agenda of a launch event gets largely hijacked by the price announcement and its comparison with other models inthe segment Therefore it makes sense to communicate about the style features and positioning before the price launch
Rakesh Srivastava director (sales amp marketing) at Hyundai second largest player in domestic market said every manufacturer hasits own strategy ampldquoAs far as Hyundaiamprsquos strategy is concerned we spend more time in preparing a launch afterdeveloping the product A good product and effective communication strategy gets volumes When we launched Creta in 2015 wetook multiple steps before the launch Initially the image renderings were revealed then we announced the variants along withfeatures and a preview was done in Chennai So we are trend setters thereamprdquo he saidhttpwwwbusiness-standardcomarticlecompaniesmaruti-drives-new-launch-strategy-to-score-over-competition-117050100180_1html
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Toyota Kirloskar Motor posts 52 growth in domestic sales in April 2017 The Economic Times (Web Edition)
Bangalore Toyota Kirloskar Motor the Indian arm of Japanese automotive manufacturer Toyota Motor Corporation has registered52 percent sales growth in domestic market and sold a total of 12948 units in the month of April 2017 informed the company in apress statement
The automaker has exported 1109 units of the Etios series in April 2017 as against 978 units during April 2016 thereby witnessinggrowth of 13 percent
The company has attributed this growth to the overwhelming response the new Fortuner has received In less than six months of itslaunch the New Fortuner has sold more than 12200 units
The new Corolla Altis has also received a very good response In just one month of its launch new Corolla Altis has been a hit withIndian customers and has clocked a growth of over 75 thereby retaining its position as segment leader
N Raja Director amp Sr Vice President Sales amp Marketing Toyota Kirloskar Motor said ampldquoWe have been able to sustain arobust growth in the month of April 2017 This growth has been propelled by the overwhelming response the new Fortuner hasreceived Ever since its launch in India in 2009 the Fortuner has been an undisputed segment leader
The launch of the new Fortuner has helped us up this ante as the new Fortuner has already sold more than 12200 units in lessthan 6 months of its launch Considering the segment in which the Fortuner is present this is a great achievement for us
We are delighted to share that New Corolla Altis has received great response from customers in just one month of its launch inMarch and has contributed towards the monthly sales growth added N Rajahttpautoeconomictimesindiatimescomnewsindustrytoyota-kirloskar-motor-posts-52-growth-in-domestic-sales-in-april-201758455344Toyota Kirloskar sales surge 48 to 14057 units in April The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestoyota-kirloskar-april-salesarticle9675212eceToyota Kirloskar sales surge 48 to 14057 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-toyota-kirloskar-sales-surge-48-to-14057-units-in-apr-2423738Toyota India posts growth of 52 percent Fortuner and Corolla Altis key contributorsThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newstoyota-india-posts-growth-of-52-percent-fortuner-and-corolla-altis-key-contributors649295
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Honda Cars India domestic sales up 381 in April 2017 The Economic Times (Web Edition)
New Delhi Indian arm of Japanese car manufacturer Honda has registered monthly domestic sales of 14480 units in April 2017against 10486 units in corresponding month last year registering a growth of 381 percent informed the company in a statement
The company exported 442 units during April 2017 thereby registering cumulative sales of 14922 units
Honda Cars India also said that it has received over 25000 bookings for Honda City since its launch in mid-February and 12000bookings for WR-V since its launch in mid-March
Yoichiro Ueno President and CEO Honda Cars India said ampldquoHCIL sales continue to grow positively and we registered ourhigher ever April numbers backed by strong demand for New City 2017 and Honda WR-V The new fiscal year has begun on apositive note and we hope to continue the growth momentumamprdquo
Honda City remained the companys best selling car with 5948 units delivered to customers and WR-V acquiring the secondposition with 3266 units sold in April 2017 Honda Jazz and Honda Amaze sold 2061 units and 2029 units respectively
Honda BR-V sold 701 units and Brio sales stood at 438 units during April 2017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarshonda-cars-india-domestic-sales-up-38-1-in-april-201758460717Honda Cars India Apr domestic sales go up 38 to 14480 unitsThe Hindu (Web Edition)httpwwwthehinducombusinesshonda-cars-india-domestic-sales-go-up-38-to-14480-unitsarticle18347304eceHonda Cars India Apr domestic sales go up 38 to 14480 unitsDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-honda-cars-india-apr-domestic-sales-go-up-38-to-14480-units-2424021
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Tata Motors passenger vehicles continue growth momentum in April 2017 ANI
See this story in Daily News amp Analysis (Web Edition)
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched lifestyle UV Tata HEXA and its latestStyleback the Tata TIGOR
The Tata TIAGO continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS3sales leading to the need for a higher quantity of BS4 stock for April sales
The higher demand at short notice was not met in production as vendors struggled to meet with the higher demand especially inthe MHCV segments Moreover after the strong pre-buying of BS3 vehicles in March and the price increase of BS4 vehicles(especially in the MHCV and Buses at 8-10percent) demand for BS4 vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis 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 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
The companys domestic sales of Tata commercial and passenger vehicles for April 2017 were at 28844 units lower by 19percent over 35604 units in April 2016
Commenting on the sales performance Mayank Pareek president Passenger Vehicles Business Unit Tata Motors said Whilethe industry faced short-term headwinds further to the BS III verdict Tata Motors continued its robust sales performance with agrowth of 23 percent in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata HEXA
We have successfully completed the launch of Tata TIGOR across the country and are delighted that it has been well received byour customers We hope to see this momentum continue with an encouraging growth on the back of our strong product portfoliohe addedhttpwwwdnaindiacommoneyreport-tata-motors-passenger-vehicles-continue-growth-momentum-in-april-2017-2424005
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GM workers stage protest over compensation package The Hindu Business Line (Web amp Print Edition)
Ahmedabad The workers of the Indian arm of American car major General Motors India on Monday staged a symbolic protest atthe Halol plant which was permanently closed by the company recently
The workers protested against the companys transfer policy and the compensation package that was offered after GM decided toconsolidate its manufacturing activity at its second plant in Talegaon Maharashtra
The protest sit-in was held in the morning on Monday
What more ironic it can get than the workers protesting at the gates of the company on the Labour Day itself There is nocommunication from the company on our demands Now the only hope is the state government The next course of action will bedecided in a day or two said Rachit Soni President General Motors Employee Union
Soni claimed that out of the 600-odd workers over 300 workers attended the protest sit-in with placards Out of the over 1000workers nearly 50 had accepted the financial package of up to Rs 10 lakh while over 350 had opted for a transfer to Talegaon lastOctober
According to the workersamprsquo sources about 400 more are likely to accept the transfer to the Talegaon plant Meanwhile theState government officials informed that the Union had approached the Gujarat High Court seeking State governments interventionafter the talks with management failed The government has assured to examine the matter under the appropriate provisions of lawhttpwwwthehindubusinesslinecomtodays-papertp-newsgm-workers-stage-protest-over-compensation-packagearticle9675663eceGM Halol workers continue to protest even after plant shuts downBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesgm-halol-workers-continue-to-protest-even-after-plant-shuts-down-117050100608_1html
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Hyundai Motor India domestic sales up 57 in April The Economic Times (Web Edition)
New Delhi Indias second largest carmaker Hyundai Motor has recorded 57 percent growth in its domestic sales for the month ofApril 2017 and delivered 44758 units to its customers informed the company in a press statement The automaker sold 42351
units during April 2016
Hyundai Motor India (HMIL) has exported 11610 units in April 2017 as against 12069 units during April 2016 thereby experiencingde-growth of 38 percent Its cumulative sales for the month went up by 36 percent at 56368 units
Rakesh Srivastava Director - Sales and Marketing HMIL said Hyundai with volume of 44758 units continued its growthmomentum on a strong base of last year driven by tremendous response for the All New Global Stylish Family Sedan Xcent andcontinued strong performance of volume driving aspirational brands Grand i10 Elite i20 and Creta
Hyundai Motor India currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent VernaCreta Elantra Tucson and Santa Fe It currently exports to around 87 countries across Africa Middle East Latin America Australiaand the Asia Pacific
HMIL currently has 477 dealers and over 1250 service points across Indiahttpautoeconomictimesindiatimescomnewsindustryhyundai-motor-india-domestic-sales-up-5-7-in-april58457068Hyundai Motor sales up 36The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompanieshyundai-motor-sales-up-36article9675255ece
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Nissan India posts 39 sales growth in April 2017 The Economic Times (Web Edition)
New Delhi The Indian arm of Japanese automobile manufacturer Nissan Motor Companys wholesale deliveries reported anincrease of 39 percent in April 2017 to 4217 vehicles The company in a statement has credited this growth in sales to customerdemand for the Datsun redi-GO and the recently introduced new Nissan Terrano
Nissan Motor Indias 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 ampldquoNissan is proud of the performance of the recently launched new Terrano and thecontinued confidence that customers are showing in the Datsun redi-GO Across India we are strengthening our footprintintroducing products and services that customers 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 and will move the company closer to its goal of becoming amajor force in India with a 5 percent market share by 2020
Nissan together with its global alliance partner Renault have set up a manufacturing plant and a Research amp Development Centrenear Chennai Nissan in India has a portfolio of two brands Nissan and Datsunhttpautoeconomictimesindiatimescomnewsindustrynissan-india-posts-39-sales-growth-in-april-201758455499Nissan sales jump 39 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesnissan-sales-jump-39-in-aprilarticle9675182eceNissan India sales rise 39 to 4217 units in AprilFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompaniesnissan-india-sales-rise-39-4217-units-april-004Nissan India sales rise 39 to 4217 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-nissan-india-sales-rise-39-to-4217-units-in-april-2423732Terrano Datsun Redi-Go drive sales for Nissan India up 39 in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-terrano-datsun-redi-go-drive-sales-for-nissan-india-up-39-in-april-2423702
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General Motors to launch new Chevrolet Beat in India in June Daily News amp Analysis (Web Edition)
General Motors is slated to launch the new generation Chevrolet Beat in India in the third week of June according to reports TheBeat previously showcased in the Auto Expo 2016 will only be receiving cosmetic changes no mechanical ones
The news comes after General Motors halted production at its first Indian plant in Halol Gujarat as part of consolidation ofmanufacturing operations in the country All manufacturing operations will now be operated from its Talegaon plant in Maharashtra
In terms of design the new Beat will have a re-designed bumper that will boast chrome accents on the front grille new fog lamps aswell as re-designed head lamps The new car will also be given a redesigned bumper with revised tail lights
The engine of the Indian Beat will be based off the M300 platform of the outgoing model With a 10 litre 3-cylinder petrol engine or
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
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Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
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Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
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23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
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Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
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Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
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Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
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Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
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Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
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Closing
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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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Powered by Enablingbiz Esoluttions
growth momentumamprdquo
Honda Cars has received over 25000 bookings for the City and 12000 for the WR-V since launch
At Tata Motors volumes rose 23 to 12827 units thanks to its new models
BS-III VerdictampldquoWhile the industry faced shortterm headwinds following the BS-III verdict Tata Motors continued its robust salesperformance with a growth of 23 in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV TataHEXAamprdquo said Mayank Pareek president passenger vehicles business unit ampldquoWe have successfully completed thelaunch of Tata Tigor across the country and are delighted that it has been well received by our customers We hope to see thismomentum continue with an encouraging growth on the back of our strong product portfolioamprdquo
The Supreme Court said companies have to stop selling BS-III vehicles on March 31 which meant some companies were stuckwith inventory that conformed to the older emission norms
The April performance showed that the industry has shaken off the temporary dampening effect caused by demonetisation saidSridhar V partner Grant Thornton India LLP ampldquoI see the growth momentum picking up further as we move forward in the newfinancial yearamprdquo he said
ampldquoThe GST (goods and services tax) will improve efficiencies This coupled with rapid infrastructure development should helpthe passenger vehicles industry post healthy double-digit growth numbers in FY18amprdquo
GST which will subsume a number of state and central levies and turn India into a common market is expected to be rolled out onJuly 1httpeconomictimesindiatimescomindustryautonewspassenger-vehiclecarsmaruti-honda-toyota-kick-off-new-fiscal-with-a-bangarticleshow58461722cmsMaruti Honda Toyota kick off new fiscal with a bangThe Hindu Business Line (Web amp Print Edition)httpwwwthehindubusinesslinecomeconomymaruti-honda-toyota-kick-off-new-fiscal-with-a-bangarticle9675607eceref=wl_newsCarmakers kick off new financial year with a bangThe Tribune (Web amp Print Edition)httpwwwtribuneindiacomnewsbusinesscarmakers-kick-off-new-financial-year-with-a-bang400681htmlCar sales zoom in AprilThe Telegraph (Web Edition)httpswwwtelegraphindiacom1170502jspbusinessstory_149262jspWQfk72OqBkgDomestic sales of auto majors zoom The Hindu (Web amp Print Edition)httpwwwthehinducomtodays-papertp-businessdomestic-sales-of-auto-majors-zoomarticle18349119eceCar sales start the new fiscal year on a healthy noteThe Times of India (Web amp Print Edition)httptimesofindiaindiatimescombusinessindia-businesscar-sales-start-the-new-fiscal-year-on-a-healthy-notearticleshow58462358cms Carmakers start the fiscal on a high most firms post strong sales in AprilThe Indian Express (Web amp Print Edition)httpindianexpresscomarticlebusinessbusiness-otherscarmakers-start-the-fiscal-on-a-high-most-firms-post-strong-sales-in-april-4636200Motown reports robust sales in AprilFinancial Chronicle (Web amp Print Edition)httpwwwmydigitalfccomnewsmotown-reports-robust-sales-april-032Motown shrugs off DeMo Maruti posts best-ever salesDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-motown-shrugs-off-demo-maruti-posts-best-ever-sales-2424539New models drive car sales in Aprilmint (Web Edition)httpwwwlivemintcomIndustryw1Y9TgR41M9BIZBOgQNIwNNew-models-drive-car-sales-in-AprilhtmlMaruti Honda Toyota kick off new fiscal with a bangDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-maruti-honda-toyota-kick-off-new-fiscal-with-a-bang-2424068Auto majors begin FY18 in top gear Maruti Tata Honda contribute the mostBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniescar-sales-zoom-over-16-in-april-117050100739_1htmlCar sales In April auto companies put pedal to metal Maruti Suzuki logs best-ever volume growthThe Financial Express (Web amp Print Edition)httpwwwfinancialexpresscomindustryin-april-auto-companies-put-pedal-to-metal-maruti-suzuki-logs-best-ever-volume-growth650068Car sales Maruti Honda Toyota Tata post double digit growth in aprilThe Pioneer (Web amp Print Edition)httpwwwdailypioneercombusinesscar-sales-maruti-honda-toyota--tata-post-double-digit-growth-in-aprilhtmlMaruti Honda Toyota kick off new fiscal year with a bangDeccan Herald (Web Edition)httpwwwdeccanheraldcomcontent609302maruti-honda-toyota-kick-offhtml
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Tata Motors domestic sales down 19 in April 2017 The Economic Times (Web Edition)
Mumbai Indian automotive manufacturer Tata Motorsamprsquo domestic sales of both commercial and passenger vehicles for April
2017 were at 28844 units lower by 19 percent over 35604 units in April 2016 informed the company in Bombay Stock Exchange(BSE) filing
Tata Motors passenger and commercial vehicle total sales (including exports) in April 2017 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
Tata Motors expects production wholesales and retails to pick up in May and June added the automaker
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched Hexa and Tigor
The Tata Tiago continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS IIIsales leading to the need for a higher quantity of BS IV stock for April sales The higher demand at short notice was not met inproduction as vendors struggled to meet with the higher demand especially in the MHCV segments
Moreover after the strong prebuying of BS III vehicles in March and the price increase of BS IV vehicles (especially in the MHCVand Buses at 8-10 percent) demand for BS IV vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis an unusual decline in exceptional circumstances
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 Russiahttpautoeconomictimesindiatimescomnewsindustrytata-motors-domestic-sales-down-19-in-april-201758460400Tata Motors sales decline 21 to 30972 units in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestata-motors-sales-decline-21-to-30972-units-in-aprilarticle9675437eceTata Motors registers 23 per cent growth in sales of passenger vehiclesThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesstata-motors-registers-23-per-cent-growth-in-sales-of-passenger-vehiclesarticleshow58462403cmsTata Motors sales decline 21 pc to 30972 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-tata-motors-sales-decline-21-pc-to-30972-units-in-april-2424008Tata Motors sales decline 21 at 30972 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniestata-motors-sales-decline-21-at-30-972-units-in-april-117050100728_1html
Top
Govt explores buy and lease strategy to boost electric vehicle usage Amrit Raj amp Utpal Bhaskarmint (Web amp Print Edition)
New Delhi The government is exploring a strategy to task a company with buying electric vehicles (EVs) in bulk and then leasingthem to companies such as taxi aggregators in an attempt to bring down the cost of such vehicles
The strategy is to encourage more manufacturers to make electric vehicles The number of electric vehicle purchases may rangebetween 200000 and 1 million
The government has been exploring the leasing model for electric vehicles Mint reported on 15 April
ampldquoThere is a lot of interest in this plan At least two companies each from the private sector and public sector space haveevinced interestamprdquo said a person involved with the governmentamprsquos electric vehicles push He declined to name the firms
SoftBank Group Corp chairman Masayoshi Son said in a statement in December that ANI Technologies Pvt Ltd which runscab-hailing service Ola in which the Japanese firm is an investor may introduce a fleet of 1 million electric cars in partnership withan electric vehicle maker and the government
ampldquoVolumes help in reducing costs We are also looking at improving km per kilowatt hour (kWh) and efficiency of electricvehicles in terms of motor tyres aero dynamics and lightweight materialamprdquo said the person quoted above
The National Democratic Alliance (NDA) government is exploring measures ranging from leasing of electric vehicles to transferringtechnology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centre for use inautomobiles It is also exploring a strategy that involves reducing the battery size to bring down electric vehicle prices
According to the business plan for electric autos and buses reviewed by Mint the battery cost is expected to be Rs18 per km withthe charging cost per km being Rs099
Abdul Majeed partner and national auto practice leader PricewaterhouseCoopers said ampldquoIt sounds like a good step aimed in
the direction of bringing some momentum to the sales of electric vehicles It will help build scale Once scale gets build rest of theissues such as infrastructure challenges etc will be taken care ofamprdquo
Shifting to electric vehicles will check pollution and reduce fuel imports Indiaamprsquos energy import bill is expected to rise fromaround $150 billion currently to $300 billion by 2030 The centre has set a target of 6 million electric vehicle sales by 2020
Queries emailed to the spokespersons for NITI Aayog department of heavy industry and ministries of road transport and highwaysand new and renewable energy on Sunday evening remained unanswered
The electric vehicle programme is slowly coming together The Economic Times newspaper on 25 April reported that Indian Instituteof Technology-Madras professor Ashok Jhunjhunwala will spearhead the governmentamprsquos electric vehicle programme
While Bharat Heavy Electricals Ltd (Bhel) Indiaamprsquos largest power generation equipment maker wants to manufacture electricvehicles such as buses cars two-wheelers and boats Power Grid Corp of India Ltd the power transmission utility responsible forestablishing green energy transmission corridors is considering setting up charging stations for electric vehicleshttpwwwlivemintcomIndustryGeHFZ5SdaliWD4ge3kTmqLGovt-explores-buy-and-lease-strategy-to-boost-electric-vehichtml
Top
Interviews amp Features
Cars SUVs MUVs
Maruti Suzuki sales up 234 in April at 144 lakh units The Economic Times (Web Edition)
New Delhi Indias top car manufacturer Maruti Suzuki India (MSIL) registered highest ever monthly wholesale in April 2017 at144492 units in the domestic market recording a growth of 234 over same month previous year the company said in a mediarelease In April last year MSIL had sold 117045 units
April 2017 has been the best month for Maruti Suzuki in terms of its domestic sales since September 2016 when the company sold137277 units
The mini segment consisting of Alto and Wagon R saw a total sales of 38897 units last month as compared to 31906 units in April2016 registering a 219 growth Mid-size sedan space dominated by Maruti Suzuki Ciaz saw a sales of 7024 units in domesticmarket
Utility vehicles dominated by Maruti Suzuki Vitara Brezza and other vehicles including S-cross Gypsy and Ertiga saw a total salesof 20638 units in April 2017 as against 16044 units same month last year
The compact space with cars like Maruti Suzuki Swift Maruti Suzuki Baleno Maruti Suzuki Ignis Dzire sold 63584 units registering39 growth over last year
Maruti Suzukis exports declined by 294 as the company exported 6732 units to its export markets in April 2017 as against 9524units in the same month last corresponding year
The company will launch the new generation of Maruti Suzuki Dzire on May 162017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmaruti-suzuki-reports-23-4-domestic-growth-in-april-2017-sells-over-1-44-lakh-units58455042Maruti sales rise 195 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesmaruti-sales-rise-195-in-aprilarticle9675163eceMaruti sales rise 195 to 151215 units in AprilThe Indian Express (Web Edition)httpindianexpresscomarticlebusinessmaruti-sales-rise-19-5-to-151215-units-in-april-4635298Maruti Suzuki India sees 195 per cent rise in total sales figures in April 2017Daily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-maruti-suzuki-india-sees-195-per-cent-rise-in-total-sales-figures-in-april-2017-from-same-time-2016-2424000Maruti Suzukiamprsquos domestic sales for April advance 23mint (Web Edition)httpwwwlivemintcomCompaniesYhOMSx4mpGRbz4kTYXDtMOMaruti-Suzukis-domestic-sales-for-April-advance-23htmlMaruti Suzuki India Ltd grows by 195 percent premium positioning improvingThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsmaruti-suzuki-india-ltd-grows-by-23-1-percent-premium-positioning-improving649009
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Marutiacirceurotrades acirceuro˜two-pedalacirceurotrade tech targets 3L units by 2020 Nandini Sen GuptaThe Times of India (Web Edition)
Chennai Car market leader Maruti Suzuki is betting big on the two-pedal technology and plans to offer variations of the technologyacross its entire model range The company ampmdash whose two-pedal technologies include AGS (auto gear shift) CVT(continuously variable transmission) and AT (automatic transmission) ampmdash is targeting sales of 300000 units from thistechnology by 2020
Maruti expects to nearly double its two-pedal technology model sales from 79000 units in FY-16-17 to 150000 units in FY17-18said company officials
Going forward Marutis endeavour is to bring one of the two-pedal technologies to its models across segments in some formeither auto gear shift CVT or AT Marutis executive director RampD C V Raman said The car maker has been offering at least oneof the three versions of the two-pedal technology in each of its new launches with both Ignis and the Dzire upgrade offering AGSoptions in both petrol and diesel and Baleno offering CVT
Marutis two pedal volumes have grown from 30000 units in FY 14-15 to 54000 units in FY 15-16 to 79000 units in FY 2016-17 InMarutis current portfolio the two pedal technologies include AGS in Celerio Wagon R Alto K-10 Ignis and the new DZire CVT inBaleno and AT in DZire and Ertiga In models where two-pedal options are available the technologys share has grown from 5 inFY14-15 to 11 in FY16-17 as Maruti offers one of the three two-pedal versions on more models
Given its affordability and the fact that it compares well with manual transmission on mileage AGS is the most popular option of thethree versions
Our experience on AGS has been quite positive said a company spokesperson It accounts for over 40 sales in CelerioWagon R 13 Alto 15 Ignis 26 Besides of the total two pedal technology sold in India 54 comes from AGS However insome models the CVT works better as in Baleno while in others AT works better like Ertiga and Ciaz
Top ten markets alone contribute 44 of the two pedal technology sales industry wide making it a strictly urban phenomenon fornow So Marutis effort will be to democratise these technologies With enhanced awareness we expect more first time buyers andrural penetration said the Maruti spokesperson
In February 2014 Maruti introduced AGS with the Celerio hatchback
Till date Celerio AMT vehicles contribute over 60 to total Celerio saleshttptimesofindiaindiatimescombusinessindia-businessmarutis-two-pedal-tech-targets-3l-units-by-2020articleshow58466345cms
Top
Price is no longer king Maruti has a new strategy to score over rivals Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Cars are no longer just about kitna deti hai (fuel efficiency) and therefore market leader Maruti Suzuki has changed itslaunch strategy Showcasing the vehicle weeks ahead of the launch without talking about the pricing and mileage is gettingimportant to communicate in details the evolving features and design to the target segment in a crowded car market
In December last year Maruti showcased its yet to be launched car Ignis just to talk at length about its positioning design safetyand entertainment features engine type and so on The detail on price and efficiency was left to be discussed at the launch eventwhich happened a month later
Companies usually open bookings for a car a couple of weeks before the launch However there is limited information and buzz inthe market about the car when bookings open Price the key deciding factor is also not known Showcasing the car andcommunicating about it before opening the booking helps in plugging most gaps and leaves one blank information- the price- forthose looking to book A preview before launch also helps in building buyer appetite and takes away volumes from competition
ampldquoMarketing is changing day by day Earlier it used to be a linear process you identified the model went for the launch anddeclared price to sell in the market Now our approach is multi dimensional Before the launch you need to show it to select peoplefor feedback go to digital media and create the buzz This builds a sense of anticipation among customers about the model Peoplestill ask for mileage but certainly it is not the only consideration nowamprdquo said R S Kalsi executive director (marketing and sales)at Maruti Suzuki
The company which commands a 47 per cent share in domestic market has repeated the Ignis strategy for Dzire the full modelchange of its best selling compact sedan Swift Dzire Last week the company did a preview event for Dzire and sought to create abuzz while communicating about its features and design The launch when price will be announced is on May 16
Experts said the agenda of a launch event gets largely hijacked by the price announcement and its comparison with other models inthe segment Therefore it makes sense to communicate about the style features and positioning before the price launch
Rakesh Srivastava director (sales amp marketing) at Hyundai second largest player in domestic market said every manufacturer hasits own strategy ampldquoAs far as Hyundaiamprsquos strategy is concerned we spend more time in preparing a launch afterdeveloping the product A good product and effective communication strategy gets volumes When we launched Creta in 2015 wetook multiple steps before the launch Initially the image renderings were revealed then we announced the variants along withfeatures and a preview was done in Chennai So we are trend setters thereamprdquo he saidhttpwwwbusiness-standardcomarticlecompaniesmaruti-drives-new-launch-strategy-to-score-over-competition-117050100180_1html
Top
Toyota Kirloskar Motor posts 52 growth in domestic sales in April 2017 The Economic Times (Web Edition)
Bangalore Toyota Kirloskar Motor the Indian arm of Japanese automotive manufacturer Toyota Motor Corporation has registered52 percent sales growth in domestic market and sold a total of 12948 units in the month of April 2017 informed the company in apress statement
The automaker has exported 1109 units of the Etios series in April 2017 as against 978 units during April 2016 thereby witnessinggrowth of 13 percent
The company has attributed this growth to the overwhelming response the new Fortuner has received In less than six months of itslaunch the New Fortuner has sold more than 12200 units
The new Corolla Altis has also received a very good response In just one month of its launch new Corolla Altis has been a hit withIndian customers and has clocked a growth of over 75 thereby retaining its position as segment leader
N Raja Director amp Sr Vice President Sales amp Marketing Toyota Kirloskar Motor said ampldquoWe have been able to sustain arobust growth in the month of April 2017 This growth has been propelled by the overwhelming response the new Fortuner hasreceived Ever since its launch in India in 2009 the Fortuner has been an undisputed segment leader
The launch of the new Fortuner has helped us up this ante as the new Fortuner has already sold more than 12200 units in lessthan 6 months of its launch Considering the segment in which the Fortuner is present this is a great achievement for us
We are delighted to share that New Corolla Altis has received great response from customers in just one month of its launch inMarch and has contributed towards the monthly sales growth added N Rajahttpautoeconomictimesindiatimescomnewsindustrytoyota-kirloskar-motor-posts-52-growth-in-domestic-sales-in-april-201758455344Toyota Kirloskar sales surge 48 to 14057 units in April The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestoyota-kirloskar-april-salesarticle9675212eceToyota Kirloskar sales surge 48 to 14057 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-toyota-kirloskar-sales-surge-48-to-14057-units-in-apr-2423738Toyota India posts growth of 52 percent Fortuner and Corolla Altis key contributorsThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newstoyota-india-posts-growth-of-52-percent-fortuner-and-corolla-altis-key-contributors649295
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Honda Cars India domestic sales up 381 in April 2017 The Economic Times (Web Edition)
New Delhi Indian arm of Japanese car manufacturer Honda has registered monthly domestic sales of 14480 units in April 2017against 10486 units in corresponding month last year registering a growth of 381 percent informed the company in a statement
The company exported 442 units during April 2017 thereby registering cumulative sales of 14922 units
Honda Cars India also said that it has received over 25000 bookings for Honda City since its launch in mid-February and 12000bookings for WR-V since its launch in mid-March
Yoichiro Ueno President and CEO Honda Cars India said ampldquoHCIL sales continue to grow positively and we registered ourhigher ever April numbers backed by strong demand for New City 2017 and Honda WR-V The new fiscal year has begun on apositive note and we hope to continue the growth momentumamprdquo
Honda City remained the companys best selling car with 5948 units delivered to customers and WR-V acquiring the secondposition with 3266 units sold in April 2017 Honda Jazz and Honda Amaze sold 2061 units and 2029 units respectively
Honda BR-V sold 701 units and Brio sales stood at 438 units during April 2017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarshonda-cars-india-domestic-sales-up-38-1-in-april-201758460717Honda Cars India Apr domestic sales go up 38 to 14480 unitsThe Hindu (Web Edition)httpwwwthehinducombusinesshonda-cars-india-domestic-sales-go-up-38-to-14480-unitsarticle18347304eceHonda Cars India Apr domestic sales go up 38 to 14480 unitsDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-honda-cars-india-apr-domestic-sales-go-up-38-to-14480-units-2424021
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Tata Motors passenger vehicles continue growth momentum in April 2017 ANI
See this story in Daily News amp Analysis (Web Edition)
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched lifestyle UV Tata HEXA and its latestStyleback the Tata TIGOR
The Tata TIAGO continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS3sales leading to the need for a higher quantity of BS4 stock for April sales
The higher demand at short notice was not met in production as vendors struggled to meet with the higher demand especially inthe MHCV segments Moreover after the strong pre-buying of BS3 vehicles in March and the price increase of BS4 vehicles(especially in the MHCV and Buses at 8-10percent) demand for BS4 vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis 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 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
The companys domestic sales of Tata commercial and passenger vehicles for April 2017 were at 28844 units lower by 19percent over 35604 units in April 2016
Commenting on the sales performance Mayank Pareek president Passenger Vehicles Business Unit Tata Motors said Whilethe industry faced short-term headwinds further to the BS III verdict Tata Motors continued its robust sales performance with agrowth of 23 percent in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata HEXA
We have successfully completed the launch of Tata TIGOR across the country and are delighted that it has been well received byour customers We hope to see this momentum continue with an encouraging growth on the back of our strong product portfoliohe addedhttpwwwdnaindiacommoneyreport-tata-motors-passenger-vehicles-continue-growth-momentum-in-april-2017-2424005
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GM workers stage protest over compensation package The Hindu Business Line (Web amp Print Edition)
Ahmedabad The workers of the Indian arm of American car major General Motors India on Monday staged a symbolic protest atthe Halol plant which was permanently closed by the company recently
The workers protested against the companys transfer policy and the compensation package that was offered after GM decided toconsolidate its manufacturing activity at its second plant in Talegaon Maharashtra
The protest sit-in was held in the morning on Monday
What more ironic it can get than the workers protesting at the gates of the company on the Labour Day itself There is nocommunication from the company on our demands Now the only hope is the state government The next course of action will bedecided in a day or two said Rachit Soni President General Motors Employee Union
Soni claimed that out of the 600-odd workers over 300 workers attended the protest sit-in with placards Out of the over 1000workers nearly 50 had accepted the financial package of up to Rs 10 lakh while over 350 had opted for a transfer to Talegaon lastOctober
According to the workersamprsquo sources about 400 more are likely to accept the transfer to the Talegaon plant Meanwhile theState government officials informed that the Union had approached the Gujarat High Court seeking State governments interventionafter the talks with management failed The government has assured to examine the matter under the appropriate provisions of lawhttpwwwthehindubusinesslinecomtodays-papertp-newsgm-workers-stage-protest-over-compensation-packagearticle9675663eceGM Halol workers continue to protest even after plant shuts downBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesgm-halol-workers-continue-to-protest-even-after-plant-shuts-down-117050100608_1html
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Hyundai Motor India domestic sales up 57 in April The Economic Times (Web Edition)
New Delhi Indias second largest carmaker Hyundai Motor has recorded 57 percent growth in its domestic sales for the month ofApril 2017 and delivered 44758 units to its customers informed the company in a press statement The automaker sold 42351
units during April 2016
Hyundai Motor India (HMIL) has exported 11610 units in April 2017 as against 12069 units during April 2016 thereby experiencingde-growth of 38 percent Its cumulative sales for the month went up by 36 percent at 56368 units
Rakesh Srivastava Director - Sales and Marketing HMIL said Hyundai with volume of 44758 units continued its growthmomentum on a strong base of last year driven by tremendous response for the All New Global Stylish Family Sedan Xcent andcontinued strong performance of volume driving aspirational brands Grand i10 Elite i20 and Creta
Hyundai Motor India currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent VernaCreta Elantra Tucson and Santa Fe It currently exports to around 87 countries across Africa Middle East Latin America Australiaand the Asia Pacific
HMIL currently has 477 dealers and over 1250 service points across Indiahttpautoeconomictimesindiatimescomnewsindustryhyundai-motor-india-domestic-sales-up-5-7-in-april58457068Hyundai Motor sales up 36The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompanieshyundai-motor-sales-up-36article9675255ece
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Nissan India posts 39 sales growth in April 2017 The Economic Times (Web Edition)
New Delhi The Indian arm of Japanese automobile manufacturer Nissan Motor Companys wholesale deliveries reported anincrease of 39 percent in April 2017 to 4217 vehicles The company in a statement has credited this growth in sales to customerdemand for the Datsun redi-GO and the recently introduced new Nissan Terrano
Nissan Motor Indias 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 ampldquoNissan is proud of the performance of the recently launched new Terrano and thecontinued confidence that customers are showing in the Datsun redi-GO Across India we are strengthening our footprintintroducing products and services that customers 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 and will move the company closer to its goal of becoming amajor force in India with a 5 percent market share by 2020
Nissan together with its global alliance partner Renault have set up a manufacturing plant and a Research amp Development Centrenear Chennai Nissan in India has a portfolio of two brands Nissan and Datsunhttpautoeconomictimesindiatimescomnewsindustrynissan-india-posts-39-sales-growth-in-april-201758455499Nissan sales jump 39 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesnissan-sales-jump-39-in-aprilarticle9675182eceNissan India sales rise 39 to 4217 units in AprilFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompaniesnissan-india-sales-rise-39-4217-units-april-004Nissan India sales rise 39 to 4217 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-nissan-india-sales-rise-39-to-4217-units-in-april-2423732Terrano Datsun Redi-Go drive sales for Nissan India up 39 in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-terrano-datsun-redi-go-drive-sales-for-nissan-india-up-39-in-april-2423702
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General Motors to launch new Chevrolet Beat in India in June Daily News amp Analysis (Web Edition)
General Motors is slated to launch the new generation Chevrolet Beat in India in the third week of June according to reports TheBeat previously showcased in the Auto Expo 2016 will only be receiving cosmetic changes no mechanical ones
The news comes after General Motors halted production at its first Indian plant in Halol Gujarat as part of consolidation ofmanufacturing operations in the country All manufacturing operations will now be operated from its Talegaon plant in Maharashtra
In terms of design the new Beat will have a re-designed bumper that will boast chrome accents on the front grille new fog lamps aswell as re-designed head lamps The new car will also be given a redesigned bumper with revised tail lights
The engine of the Indian Beat will be based off the M300 platform of the outgoing model With a 10 litre 3-cylinder petrol engine or
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
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Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
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Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
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23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
Top
Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
Top
E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
Top
Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
Top
Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
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Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
Top
Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
Top
BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
Top
Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Powered by Enablingbiz Esoluttions
2017 were at 28844 units lower by 19 percent over 35604 units in April 2016 informed the company in Bombay Stock Exchange(BSE) filing
Tata Motors passenger and commercial vehicle total sales (including exports) in April 2017 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
Tata Motors expects production wholesales and retails to pick up in May and June added the automaker
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched Hexa and Tigor
The Tata Tiago continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS IIIsales leading to the need for a higher quantity of BS IV stock for April sales The higher demand at short notice was not met inproduction as vendors struggled to meet with the higher demand especially in the MHCV segments
Moreover after the strong prebuying of BS III vehicles in March and the price increase of BS IV vehicles (especially in the MHCVand Buses at 8-10 percent) demand for BS IV vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis an unusual decline in exceptional circumstances
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 Russiahttpautoeconomictimesindiatimescomnewsindustrytata-motors-domestic-sales-down-19-in-april-201758460400Tata Motors sales decline 21 to 30972 units in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestata-motors-sales-decline-21-to-30972-units-in-aprilarticle9675437eceTata Motors registers 23 per cent growth in sales of passenger vehiclesThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesstata-motors-registers-23-per-cent-growth-in-sales-of-passenger-vehiclesarticleshow58462403cmsTata Motors sales decline 21 pc to 30972 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-tata-motors-sales-decline-21-pc-to-30972-units-in-april-2424008Tata Motors sales decline 21 at 30972 units in AprilBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlecompaniestata-motors-sales-decline-21-at-30-972-units-in-april-117050100728_1html
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Govt explores buy and lease strategy to boost electric vehicle usage Amrit Raj amp Utpal Bhaskarmint (Web amp Print Edition)
New Delhi The government is exploring a strategy to task a company with buying electric vehicles (EVs) in bulk and then leasingthem to companies such as taxi aggregators in an attempt to bring down the cost of such vehicles
The strategy is to encourage more manufacturers to make electric vehicles The number of electric vehicle purchases may rangebetween 200000 and 1 million
The government has been exploring the leasing model for electric vehicles Mint reported on 15 April
ampldquoThere is a lot of interest in this plan At least two companies each from the private sector and public sector space haveevinced interestamprdquo said a person involved with the governmentamprsquos electric vehicles push He declined to name the firms
SoftBank Group Corp chairman Masayoshi Son said in a statement in December that ANI Technologies Pvt Ltd which runscab-hailing service Ola in which the Japanese firm is an investor may introduce a fleet of 1 million electric cars in partnership withan electric vehicle maker and the government
ampldquoVolumes help in reducing costs We are also looking at improving km per kilowatt hour (kWh) and efficiency of electricvehicles in terms of motor tyres aero dynamics and lightweight materialamprdquo said the person quoted above
The National Democratic Alliance (NDA) government is exploring measures ranging from leasing of electric vehicles to transferringtechnology to firms for commercial production of lithium-ion batteries developed by the Vikram Sarabhai Space Centre for use inautomobiles It is also exploring a strategy that involves reducing the battery size to bring down electric vehicle prices
According to the business plan for electric autos and buses reviewed by Mint the battery cost is expected to be Rs18 per km withthe charging cost per km being Rs099
Abdul Majeed partner and national auto practice leader PricewaterhouseCoopers said ampldquoIt sounds like a good step aimed in
the direction of bringing some momentum to the sales of electric vehicles It will help build scale Once scale gets build rest of theissues such as infrastructure challenges etc will be taken care ofamprdquo
Shifting to electric vehicles will check pollution and reduce fuel imports Indiaamprsquos energy import bill is expected to rise fromaround $150 billion currently to $300 billion by 2030 The centre has set a target of 6 million electric vehicle sales by 2020
Queries emailed to the spokespersons for NITI Aayog department of heavy industry and ministries of road transport and highwaysand new and renewable energy on Sunday evening remained unanswered
The electric vehicle programme is slowly coming together The Economic Times newspaper on 25 April reported that Indian Instituteof Technology-Madras professor Ashok Jhunjhunwala will spearhead the governmentamprsquos electric vehicle programme
While Bharat Heavy Electricals Ltd (Bhel) Indiaamprsquos largest power generation equipment maker wants to manufacture electricvehicles such as buses cars two-wheelers and boats Power Grid Corp of India Ltd the power transmission utility responsible forestablishing green energy transmission corridors is considering setting up charging stations for electric vehicleshttpwwwlivemintcomIndustryGeHFZ5SdaliWD4ge3kTmqLGovt-explores-buy-and-lease-strategy-to-boost-electric-vehichtml
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Interviews amp Features
Cars SUVs MUVs
Maruti Suzuki sales up 234 in April at 144 lakh units The Economic Times (Web Edition)
New Delhi Indias top car manufacturer Maruti Suzuki India (MSIL) registered highest ever monthly wholesale in April 2017 at144492 units in the domestic market recording a growth of 234 over same month previous year the company said in a mediarelease In April last year MSIL had sold 117045 units
April 2017 has been the best month for Maruti Suzuki in terms of its domestic sales since September 2016 when the company sold137277 units
The mini segment consisting of Alto and Wagon R saw a total sales of 38897 units last month as compared to 31906 units in April2016 registering a 219 growth Mid-size sedan space dominated by Maruti Suzuki Ciaz saw a sales of 7024 units in domesticmarket
Utility vehicles dominated by Maruti Suzuki Vitara Brezza and other vehicles including S-cross Gypsy and Ertiga saw a total salesof 20638 units in April 2017 as against 16044 units same month last year
The compact space with cars like Maruti Suzuki Swift Maruti Suzuki Baleno Maruti Suzuki Ignis Dzire sold 63584 units registering39 growth over last year
Maruti Suzukis exports declined by 294 as the company exported 6732 units to its export markets in April 2017 as against 9524units in the same month last corresponding year
The company will launch the new generation of Maruti Suzuki Dzire on May 162017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmaruti-suzuki-reports-23-4-domestic-growth-in-april-2017-sells-over-1-44-lakh-units58455042Maruti sales rise 195 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesmaruti-sales-rise-195-in-aprilarticle9675163eceMaruti sales rise 195 to 151215 units in AprilThe Indian Express (Web Edition)httpindianexpresscomarticlebusinessmaruti-sales-rise-19-5-to-151215-units-in-april-4635298Maruti Suzuki India sees 195 per cent rise in total sales figures in April 2017Daily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-maruti-suzuki-india-sees-195-per-cent-rise-in-total-sales-figures-in-april-2017-from-same-time-2016-2424000Maruti Suzukiamprsquos domestic sales for April advance 23mint (Web Edition)httpwwwlivemintcomCompaniesYhOMSx4mpGRbz4kTYXDtMOMaruti-Suzukis-domestic-sales-for-April-advance-23htmlMaruti Suzuki India Ltd grows by 195 percent premium positioning improvingThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsmaruti-suzuki-india-ltd-grows-by-23-1-percent-premium-positioning-improving649009
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Marutiacirceurotrades acirceuro˜two-pedalacirceurotrade tech targets 3L units by 2020 Nandini Sen GuptaThe Times of India (Web Edition)
Chennai Car market leader Maruti Suzuki is betting big on the two-pedal technology and plans to offer variations of the technologyacross its entire model range The company ampmdash whose two-pedal technologies include AGS (auto gear shift) CVT(continuously variable transmission) and AT (automatic transmission) ampmdash is targeting sales of 300000 units from thistechnology by 2020
Maruti expects to nearly double its two-pedal technology model sales from 79000 units in FY-16-17 to 150000 units in FY17-18said company officials
Going forward Marutis endeavour is to bring one of the two-pedal technologies to its models across segments in some formeither auto gear shift CVT or AT Marutis executive director RampD C V Raman said The car maker has been offering at least oneof the three versions of the two-pedal technology in each of its new launches with both Ignis and the Dzire upgrade offering AGSoptions in both petrol and diesel and Baleno offering CVT
Marutis two pedal volumes have grown from 30000 units in FY 14-15 to 54000 units in FY 15-16 to 79000 units in FY 2016-17 InMarutis current portfolio the two pedal technologies include AGS in Celerio Wagon R Alto K-10 Ignis and the new DZire CVT inBaleno and AT in DZire and Ertiga In models where two-pedal options are available the technologys share has grown from 5 inFY14-15 to 11 in FY16-17 as Maruti offers one of the three two-pedal versions on more models
Given its affordability and the fact that it compares well with manual transmission on mileage AGS is the most popular option of thethree versions
Our experience on AGS has been quite positive said a company spokesperson It accounts for over 40 sales in CelerioWagon R 13 Alto 15 Ignis 26 Besides of the total two pedal technology sold in India 54 comes from AGS However insome models the CVT works better as in Baleno while in others AT works better like Ertiga and Ciaz
Top ten markets alone contribute 44 of the two pedal technology sales industry wide making it a strictly urban phenomenon fornow So Marutis effort will be to democratise these technologies With enhanced awareness we expect more first time buyers andrural penetration said the Maruti spokesperson
In February 2014 Maruti introduced AGS with the Celerio hatchback
Till date Celerio AMT vehicles contribute over 60 to total Celerio saleshttptimesofindiaindiatimescombusinessindia-businessmarutis-two-pedal-tech-targets-3l-units-by-2020articleshow58466345cms
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Price is no longer king Maruti has a new strategy to score over rivals Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Cars are no longer just about kitna deti hai (fuel efficiency) and therefore market leader Maruti Suzuki has changed itslaunch strategy Showcasing the vehicle weeks ahead of the launch without talking about the pricing and mileage is gettingimportant to communicate in details the evolving features and design to the target segment in a crowded car market
In December last year Maruti showcased its yet to be launched car Ignis just to talk at length about its positioning design safetyand entertainment features engine type and so on The detail on price and efficiency was left to be discussed at the launch eventwhich happened a month later
Companies usually open bookings for a car a couple of weeks before the launch However there is limited information and buzz inthe market about the car when bookings open Price the key deciding factor is also not known Showcasing the car andcommunicating about it before opening the booking helps in plugging most gaps and leaves one blank information- the price- forthose looking to book A preview before launch also helps in building buyer appetite and takes away volumes from competition
ampldquoMarketing is changing day by day Earlier it used to be a linear process you identified the model went for the launch anddeclared price to sell in the market Now our approach is multi dimensional Before the launch you need to show it to select peoplefor feedback go to digital media and create the buzz This builds a sense of anticipation among customers about the model Peoplestill ask for mileage but certainly it is not the only consideration nowamprdquo said R S Kalsi executive director (marketing and sales)at Maruti Suzuki
The company which commands a 47 per cent share in domestic market has repeated the Ignis strategy for Dzire the full modelchange of its best selling compact sedan Swift Dzire Last week the company did a preview event for Dzire and sought to create abuzz while communicating about its features and design The launch when price will be announced is on May 16
Experts said the agenda of a launch event gets largely hijacked by the price announcement and its comparison with other models inthe segment Therefore it makes sense to communicate about the style features and positioning before the price launch
Rakesh Srivastava director (sales amp marketing) at Hyundai second largest player in domestic market said every manufacturer hasits own strategy ampldquoAs far as Hyundaiamprsquos strategy is concerned we spend more time in preparing a launch afterdeveloping the product A good product and effective communication strategy gets volumes When we launched Creta in 2015 wetook multiple steps before the launch Initially the image renderings were revealed then we announced the variants along withfeatures and a preview was done in Chennai So we are trend setters thereamprdquo he saidhttpwwwbusiness-standardcomarticlecompaniesmaruti-drives-new-launch-strategy-to-score-over-competition-117050100180_1html
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Toyota Kirloskar Motor posts 52 growth in domestic sales in April 2017 The Economic Times (Web Edition)
Bangalore Toyota Kirloskar Motor the Indian arm of Japanese automotive manufacturer Toyota Motor Corporation has registered52 percent sales growth in domestic market and sold a total of 12948 units in the month of April 2017 informed the company in apress statement
The automaker has exported 1109 units of the Etios series in April 2017 as against 978 units during April 2016 thereby witnessinggrowth of 13 percent
The company has attributed this growth to the overwhelming response the new Fortuner has received In less than six months of itslaunch the New Fortuner has sold more than 12200 units
The new Corolla Altis has also received a very good response In just one month of its launch new Corolla Altis has been a hit withIndian customers and has clocked a growth of over 75 thereby retaining its position as segment leader
N Raja Director amp Sr Vice President Sales amp Marketing Toyota Kirloskar Motor said ampldquoWe have been able to sustain arobust growth in the month of April 2017 This growth has been propelled by the overwhelming response the new Fortuner hasreceived Ever since its launch in India in 2009 the Fortuner has been an undisputed segment leader
The launch of the new Fortuner has helped us up this ante as the new Fortuner has already sold more than 12200 units in lessthan 6 months of its launch Considering the segment in which the Fortuner is present this is a great achievement for us
We are delighted to share that New Corolla Altis has received great response from customers in just one month of its launch inMarch and has contributed towards the monthly sales growth added N Rajahttpautoeconomictimesindiatimescomnewsindustrytoyota-kirloskar-motor-posts-52-growth-in-domestic-sales-in-april-201758455344Toyota Kirloskar sales surge 48 to 14057 units in April The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestoyota-kirloskar-april-salesarticle9675212eceToyota Kirloskar sales surge 48 to 14057 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-toyota-kirloskar-sales-surge-48-to-14057-units-in-apr-2423738Toyota India posts growth of 52 percent Fortuner and Corolla Altis key contributorsThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newstoyota-india-posts-growth-of-52-percent-fortuner-and-corolla-altis-key-contributors649295
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Honda Cars India domestic sales up 381 in April 2017 The Economic Times (Web Edition)
New Delhi Indian arm of Japanese car manufacturer Honda has registered monthly domestic sales of 14480 units in April 2017against 10486 units in corresponding month last year registering a growth of 381 percent informed the company in a statement
The company exported 442 units during April 2017 thereby registering cumulative sales of 14922 units
Honda Cars India also said that it has received over 25000 bookings for Honda City since its launch in mid-February and 12000bookings for WR-V since its launch in mid-March
Yoichiro Ueno President and CEO Honda Cars India said ampldquoHCIL sales continue to grow positively and we registered ourhigher ever April numbers backed by strong demand for New City 2017 and Honda WR-V The new fiscal year has begun on apositive note and we hope to continue the growth momentumamprdquo
Honda City remained the companys best selling car with 5948 units delivered to customers and WR-V acquiring the secondposition with 3266 units sold in April 2017 Honda Jazz and Honda Amaze sold 2061 units and 2029 units respectively
Honda BR-V sold 701 units and Brio sales stood at 438 units during April 2017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarshonda-cars-india-domestic-sales-up-38-1-in-april-201758460717Honda Cars India Apr domestic sales go up 38 to 14480 unitsThe Hindu (Web Edition)httpwwwthehinducombusinesshonda-cars-india-domestic-sales-go-up-38-to-14480-unitsarticle18347304eceHonda Cars India Apr domestic sales go up 38 to 14480 unitsDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-honda-cars-india-apr-domestic-sales-go-up-38-to-14480-units-2424021
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Tata Motors passenger vehicles continue growth momentum in April 2017 ANI
See this story in Daily News amp Analysis (Web Edition)
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched lifestyle UV Tata HEXA and its latestStyleback the Tata TIGOR
The Tata TIAGO continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS3sales leading to the need for a higher quantity of BS4 stock for April sales
The higher demand at short notice was not met in production as vendors struggled to meet with the higher demand especially inthe MHCV segments Moreover after the strong pre-buying of BS3 vehicles in March and the price increase of BS4 vehicles(especially in the MHCV and Buses at 8-10percent) demand for BS4 vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis 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 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
The companys domestic sales of Tata commercial and passenger vehicles for April 2017 were at 28844 units lower by 19percent over 35604 units in April 2016
Commenting on the sales performance Mayank Pareek president Passenger Vehicles Business Unit Tata Motors said Whilethe industry faced short-term headwinds further to the BS III verdict Tata Motors continued its robust sales performance with agrowth of 23 percent in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata HEXA
We have successfully completed the launch of Tata TIGOR across the country and are delighted that it has been well received byour customers We hope to see this momentum continue with an encouraging growth on the back of our strong product portfoliohe addedhttpwwwdnaindiacommoneyreport-tata-motors-passenger-vehicles-continue-growth-momentum-in-april-2017-2424005
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GM workers stage protest over compensation package The Hindu Business Line (Web amp Print Edition)
Ahmedabad The workers of the Indian arm of American car major General Motors India on Monday staged a symbolic protest atthe Halol plant which was permanently closed by the company recently
The workers protested against the companys transfer policy and the compensation package that was offered after GM decided toconsolidate its manufacturing activity at its second plant in Talegaon Maharashtra
The protest sit-in was held in the morning on Monday
What more ironic it can get than the workers protesting at the gates of the company on the Labour Day itself There is nocommunication from the company on our demands Now the only hope is the state government The next course of action will bedecided in a day or two said Rachit Soni President General Motors Employee Union
Soni claimed that out of the 600-odd workers over 300 workers attended the protest sit-in with placards Out of the over 1000workers nearly 50 had accepted the financial package of up to Rs 10 lakh while over 350 had opted for a transfer to Talegaon lastOctober
According to the workersamprsquo sources about 400 more are likely to accept the transfer to the Talegaon plant Meanwhile theState government officials informed that the Union had approached the Gujarat High Court seeking State governments interventionafter the talks with management failed The government has assured to examine the matter under the appropriate provisions of lawhttpwwwthehindubusinesslinecomtodays-papertp-newsgm-workers-stage-protest-over-compensation-packagearticle9675663eceGM Halol workers continue to protest even after plant shuts downBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesgm-halol-workers-continue-to-protest-even-after-plant-shuts-down-117050100608_1html
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Hyundai Motor India domestic sales up 57 in April The Economic Times (Web Edition)
New Delhi Indias second largest carmaker Hyundai Motor has recorded 57 percent growth in its domestic sales for the month ofApril 2017 and delivered 44758 units to its customers informed the company in a press statement The automaker sold 42351
units during April 2016
Hyundai Motor India (HMIL) has exported 11610 units in April 2017 as against 12069 units during April 2016 thereby experiencingde-growth of 38 percent Its cumulative sales for the month went up by 36 percent at 56368 units
Rakesh Srivastava Director - Sales and Marketing HMIL said Hyundai with volume of 44758 units continued its growthmomentum on a strong base of last year driven by tremendous response for the All New Global Stylish Family Sedan Xcent andcontinued strong performance of volume driving aspirational brands Grand i10 Elite i20 and Creta
Hyundai Motor India currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent VernaCreta Elantra Tucson and Santa Fe It currently exports to around 87 countries across Africa Middle East Latin America Australiaand the Asia Pacific
HMIL currently has 477 dealers and over 1250 service points across Indiahttpautoeconomictimesindiatimescomnewsindustryhyundai-motor-india-domestic-sales-up-5-7-in-april58457068Hyundai Motor sales up 36The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompanieshyundai-motor-sales-up-36article9675255ece
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Nissan India posts 39 sales growth in April 2017 The Economic Times (Web Edition)
New Delhi The Indian arm of Japanese automobile manufacturer Nissan Motor Companys wholesale deliveries reported anincrease of 39 percent in April 2017 to 4217 vehicles The company in a statement has credited this growth in sales to customerdemand for the Datsun redi-GO and the recently introduced new Nissan Terrano
Nissan Motor Indias 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 ampldquoNissan is proud of the performance of the recently launched new Terrano and thecontinued confidence that customers are showing in the Datsun redi-GO Across India we are strengthening our footprintintroducing products and services that customers 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 and will move the company closer to its goal of becoming amajor force in India with a 5 percent market share by 2020
Nissan together with its global alliance partner Renault have set up a manufacturing plant and a Research amp Development Centrenear Chennai Nissan in India has a portfolio of two brands Nissan and Datsunhttpautoeconomictimesindiatimescomnewsindustrynissan-india-posts-39-sales-growth-in-april-201758455499Nissan sales jump 39 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesnissan-sales-jump-39-in-aprilarticle9675182eceNissan India sales rise 39 to 4217 units in AprilFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompaniesnissan-india-sales-rise-39-4217-units-april-004Nissan India sales rise 39 to 4217 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-nissan-india-sales-rise-39-to-4217-units-in-april-2423732Terrano Datsun Redi-Go drive sales for Nissan India up 39 in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-terrano-datsun-redi-go-drive-sales-for-nissan-india-up-39-in-april-2423702
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General Motors to launch new Chevrolet Beat in India in June Daily News amp Analysis (Web Edition)
General Motors is slated to launch the new generation Chevrolet Beat in India in the third week of June according to reports TheBeat previously showcased in the Auto Expo 2016 will only be receiving cosmetic changes no mechanical ones
The news comes after General Motors halted production at its first Indian plant in Halol Gujarat as part of consolidation ofmanufacturing operations in the country All manufacturing operations will now be operated from its Talegaon plant in Maharashtra
In terms of design the new Beat will have a re-designed bumper that will boast chrome accents on the front grille new fog lamps aswell as re-designed head lamps The new car will also be given a redesigned bumper with revised tail lights
The engine of the Indian Beat will be based off the M300 platform of the outgoing model With a 10 litre 3-cylinder petrol engine or
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
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Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
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Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
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23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
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Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
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Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
Top
Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
Top
Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
Top
Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
Top
Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
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Closing
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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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Powered by Enablingbiz Esoluttions
the direction of bringing some momentum to the sales of electric vehicles It will help build scale Once scale gets build rest of theissues such as infrastructure challenges etc will be taken care ofamprdquo
Shifting to electric vehicles will check pollution and reduce fuel imports Indiaamprsquos energy import bill is expected to rise fromaround $150 billion currently to $300 billion by 2030 The centre has set a target of 6 million electric vehicle sales by 2020
Queries emailed to the spokespersons for NITI Aayog department of heavy industry and ministries of road transport and highwaysand new and renewable energy on Sunday evening remained unanswered
The electric vehicle programme is slowly coming together The Economic Times newspaper on 25 April reported that Indian Instituteof Technology-Madras professor Ashok Jhunjhunwala will spearhead the governmentamprsquos electric vehicle programme
While Bharat Heavy Electricals Ltd (Bhel) Indiaamprsquos largest power generation equipment maker wants to manufacture electricvehicles such as buses cars two-wheelers and boats Power Grid Corp of India Ltd the power transmission utility responsible forestablishing green energy transmission corridors is considering setting up charging stations for electric vehicleshttpwwwlivemintcomIndustryGeHFZ5SdaliWD4ge3kTmqLGovt-explores-buy-and-lease-strategy-to-boost-electric-vehichtml
Top
Interviews amp Features
Cars SUVs MUVs
Maruti Suzuki sales up 234 in April at 144 lakh units The Economic Times (Web Edition)
New Delhi Indias top car manufacturer Maruti Suzuki India (MSIL) registered highest ever monthly wholesale in April 2017 at144492 units in the domestic market recording a growth of 234 over same month previous year the company said in a mediarelease In April last year MSIL had sold 117045 units
April 2017 has been the best month for Maruti Suzuki in terms of its domestic sales since September 2016 when the company sold137277 units
The mini segment consisting of Alto and Wagon R saw a total sales of 38897 units last month as compared to 31906 units in April2016 registering a 219 growth Mid-size sedan space dominated by Maruti Suzuki Ciaz saw a sales of 7024 units in domesticmarket
Utility vehicles dominated by Maruti Suzuki Vitara Brezza and other vehicles including S-cross Gypsy and Ertiga saw a total salesof 20638 units in April 2017 as against 16044 units same month last year
The compact space with cars like Maruti Suzuki Swift Maruti Suzuki Baleno Maruti Suzuki Ignis Dzire sold 63584 units registering39 growth over last year
Maruti Suzukis exports declined by 294 as the company exported 6732 units to its export markets in April 2017 as against 9524units in the same month last corresponding year
The company will launch the new generation of Maruti Suzuki Dzire on May 162017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmaruti-suzuki-reports-23-4-domestic-growth-in-april-2017-sells-over-1-44-lakh-units58455042Maruti sales rise 195 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesmaruti-sales-rise-195-in-aprilarticle9675163eceMaruti sales rise 195 to 151215 units in AprilThe Indian Express (Web Edition)httpindianexpresscomarticlebusinessmaruti-sales-rise-19-5-to-151215-units-in-april-4635298Maruti Suzuki India sees 195 per cent rise in total sales figures in April 2017Daily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-maruti-suzuki-india-sees-195-per-cent-rise-in-total-sales-figures-in-april-2017-from-same-time-2016-2424000Maruti Suzukiamprsquos domestic sales for April advance 23mint (Web Edition)httpwwwlivemintcomCompaniesYhOMSx4mpGRbz4kTYXDtMOMaruti-Suzukis-domestic-sales-for-April-advance-23htmlMaruti Suzuki India Ltd grows by 195 percent premium positioning improvingThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newsmaruti-suzuki-india-ltd-grows-by-23-1-percent-premium-positioning-improving649009
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Marutiacirceurotrades acirceuro˜two-pedalacirceurotrade tech targets 3L units by 2020 Nandini Sen GuptaThe Times of India (Web Edition)
Chennai Car market leader Maruti Suzuki is betting big on the two-pedal technology and plans to offer variations of the technologyacross its entire model range The company ampmdash whose two-pedal technologies include AGS (auto gear shift) CVT(continuously variable transmission) and AT (automatic transmission) ampmdash is targeting sales of 300000 units from thistechnology by 2020
Maruti expects to nearly double its two-pedal technology model sales from 79000 units in FY-16-17 to 150000 units in FY17-18said company officials
Going forward Marutis endeavour is to bring one of the two-pedal technologies to its models across segments in some formeither auto gear shift CVT or AT Marutis executive director RampD C V Raman said The car maker has been offering at least oneof the three versions of the two-pedal technology in each of its new launches with both Ignis and the Dzire upgrade offering AGSoptions in both petrol and diesel and Baleno offering CVT
Marutis two pedal volumes have grown from 30000 units in FY 14-15 to 54000 units in FY 15-16 to 79000 units in FY 2016-17 InMarutis current portfolio the two pedal technologies include AGS in Celerio Wagon R Alto K-10 Ignis and the new DZire CVT inBaleno and AT in DZire and Ertiga In models where two-pedal options are available the technologys share has grown from 5 inFY14-15 to 11 in FY16-17 as Maruti offers one of the three two-pedal versions on more models
Given its affordability and the fact that it compares well with manual transmission on mileage AGS is the most popular option of thethree versions
Our experience on AGS has been quite positive said a company spokesperson It accounts for over 40 sales in CelerioWagon R 13 Alto 15 Ignis 26 Besides of the total two pedal technology sold in India 54 comes from AGS However insome models the CVT works better as in Baleno while in others AT works better like Ertiga and Ciaz
Top ten markets alone contribute 44 of the two pedal technology sales industry wide making it a strictly urban phenomenon fornow So Marutis effort will be to democratise these technologies With enhanced awareness we expect more first time buyers andrural penetration said the Maruti spokesperson
In February 2014 Maruti introduced AGS with the Celerio hatchback
Till date Celerio AMT vehicles contribute over 60 to total Celerio saleshttptimesofindiaindiatimescombusinessindia-businessmarutis-two-pedal-tech-targets-3l-units-by-2020articleshow58466345cms
Top
Price is no longer king Maruti has a new strategy to score over rivals Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Cars are no longer just about kitna deti hai (fuel efficiency) and therefore market leader Maruti Suzuki has changed itslaunch strategy Showcasing the vehicle weeks ahead of the launch without talking about the pricing and mileage is gettingimportant to communicate in details the evolving features and design to the target segment in a crowded car market
In December last year Maruti showcased its yet to be launched car Ignis just to talk at length about its positioning design safetyand entertainment features engine type and so on The detail on price and efficiency was left to be discussed at the launch eventwhich happened a month later
Companies usually open bookings for a car a couple of weeks before the launch However there is limited information and buzz inthe market about the car when bookings open Price the key deciding factor is also not known Showcasing the car andcommunicating about it before opening the booking helps in plugging most gaps and leaves one blank information- the price- forthose looking to book A preview before launch also helps in building buyer appetite and takes away volumes from competition
ampldquoMarketing is changing day by day Earlier it used to be a linear process you identified the model went for the launch anddeclared price to sell in the market Now our approach is multi dimensional Before the launch you need to show it to select peoplefor feedback go to digital media and create the buzz This builds a sense of anticipation among customers about the model Peoplestill ask for mileage but certainly it is not the only consideration nowamprdquo said R S Kalsi executive director (marketing and sales)at Maruti Suzuki
The company which commands a 47 per cent share in domestic market has repeated the Ignis strategy for Dzire the full modelchange of its best selling compact sedan Swift Dzire Last week the company did a preview event for Dzire and sought to create abuzz while communicating about its features and design The launch when price will be announced is on May 16
Experts said the agenda of a launch event gets largely hijacked by the price announcement and its comparison with other models inthe segment Therefore it makes sense to communicate about the style features and positioning before the price launch
Rakesh Srivastava director (sales amp marketing) at Hyundai second largest player in domestic market said every manufacturer hasits own strategy ampldquoAs far as Hyundaiamprsquos strategy is concerned we spend more time in preparing a launch afterdeveloping the product A good product and effective communication strategy gets volumes When we launched Creta in 2015 wetook multiple steps before the launch Initially the image renderings were revealed then we announced the variants along withfeatures and a preview was done in Chennai So we are trend setters thereamprdquo he saidhttpwwwbusiness-standardcomarticlecompaniesmaruti-drives-new-launch-strategy-to-score-over-competition-117050100180_1html
Top
Toyota Kirloskar Motor posts 52 growth in domestic sales in April 2017 The Economic Times (Web Edition)
Bangalore Toyota Kirloskar Motor the Indian arm of Japanese automotive manufacturer Toyota Motor Corporation has registered52 percent sales growth in domestic market and sold a total of 12948 units in the month of April 2017 informed the company in apress statement
The automaker has exported 1109 units of the Etios series in April 2017 as against 978 units during April 2016 thereby witnessinggrowth of 13 percent
The company has attributed this growth to the overwhelming response the new Fortuner has received In less than six months of itslaunch the New Fortuner has sold more than 12200 units
The new Corolla Altis has also received a very good response In just one month of its launch new Corolla Altis has been a hit withIndian customers and has clocked a growth of over 75 thereby retaining its position as segment leader
N Raja Director amp Sr Vice President Sales amp Marketing Toyota Kirloskar Motor said ampldquoWe have been able to sustain arobust growth in the month of April 2017 This growth has been propelled by the overwhelming response the new Fortuner hasreceived Ever since its launch in India in 2009 the Fortuner has been an undisputed segment leader
The launch of the new Fortuner has helped us up this ante as the new Fortuner has already sold more than 12200 units in lessthan 6 months of its launch Considering the segment in which the Fortuner is present this is a great achievement for us
We are delighted to share that New Corolla Altis has received great response from customers in just one month of its launch inMarch and has contributed towards the monthly sales growth added N Rajahttpautoeconomictimesindiatimescomnewsindustrytoyota-kirloskar-motor-posts-52-growth-in-domestic-sales-in-april-201758455344Toyota Kirloskar sales surge 48 to 14057 units in April The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestoyota-kirloskar-april-salesarticle9675212eceToyota Kirloskar sales surge 48 to 14057 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-toyota-kirloskar-sales-surge-48-to-14057-units-in-apr-2423738Toyota India posts growth of 52 percent Fortuner and Corolla Altis key contributorsThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newstoyota-india-posts-growth-of-52-percent-fortuner-and-corolla-altis-key-contributors649295
Top
Honda Cars India domestic sales up 381 in April 2017 The Economic Times (Web Edition)
New Delhi Indian arm of Japanese car manufacturer Honda has registered monthly domestic sales of 14480 units in April 2017against 10486 units in corresponding month last year registering a growth of 381 percent informed the company in a statement
The company exported 442 units during April 2017 thereby registering cumulative sales of 14922 units
Honda Cars India also said that it has received over 25000 bookings for Honda City since its launch in mid-February and 12000bookings for WR-V since its launch in mid-March
Yoichiro Ueno President and CEO Honda Cars India said ampldquoHCIL sales continue to grow positively and we registered ourhigher ever April numbers backed by strong demand for New City 2017 and Honda WR-V The new fiscal year has begun on apositive note and we hope to continue the growth momentumamprdquo
Honda City remained the companys best selling car with 5948 units delivered to customers and WR-V acquiring the secondposition with 3266 units sold in April 2017 Honda Jazz and Honda Amaze sold 2061 units and 2029 units respectively
Honda BR-V sold 701 units and Brio sales stood at 438 units during April 2017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarshonda-cars-india-domestic-sales-up-38-1-in-april-201758460717Honda Cars India Apr domestic sales go up 38 to 14480 unitsThe Hindu (Web Edition)httpwwwthehinducombusinesshonda-cars-india-domestic-sales-go-up-38-to-14480-unitsarticle18347304eceHonda Cars India Apr domestic sales go up 38 to 14480 unitsDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-honda-cars-india-apr-domestic-sales-go-up-38-to-14480-units-2424021
Top
Tata Motors passenger vehicles continue growth momentum in April 2017 ANI
See this story in Daily News amp Analysis (Web Edition)
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched lifestyle UV Tata HEXA and its latestStyleback the Tata TIGOR
The Tata TIAGO continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS3sales leading to the need for a higher quantity of BS4 stock for April sales
The higher demand at short notice was not met in production as vendors struggled to meet with the higher demand especially inthe MHCV segments Moreover after the strong pre-buying of BS3 vehicles in March and the price increase of BS4 vehicles(especially in the MHCV and Buses at 8-10percent) demand for BS4 vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis 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 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
The companys domestic sales of Tata commercial and passenger vehicles for April 2017 were at 28844 units lower by 19percent over 35604 units in April 2016
Commenting on the sales performance Mayank Pareek president Passenger Vehicles Business Unit Tata Motors said Whilethe industry faced short-term headwinds further to the BS III verdict Tata Motors continued its robust sales performance with agrowth of 23 percent in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata HEXA
We have successfully completed the launch of Tata TIGOR across the country and are delighted that it has been well received byour customers We hope to see this momentum continue with an encouraging growth on the back of our strong product portfoliohe addedhttpwwwdnaindiacommoneyreport-tata-motors-passenger-vehicles-continue-growth-momentum-in-april-2017-2424005
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GM workers stage protest over compensation package The Hindu Business Line (Web amp Print Edition)
Ahmedabad The workers of the Indian arm of American car major General Motors India on Monday staged a symbolic protest atthe Halol plant which was permanently closed by the company recently
The workers protested against the companys transfer policy and the compensation package that was offered after GM decided toconsolidate its manufacturing activity at its second plant in Talegaon Maharashtra
The protest sit-in was held in the morning on Monday
What more ironic it can get than the workers protesting at the gates of the company on the Labour Day itself There is nocommunication from the company on our demands Now the only hope is the state government The next course of action will bedecided in a day or two said Rachit Soni President General Motors Employee Union
Soni claimed that out of the 600-odd workers over 300 workers attended the protest sit-in with placards Out of the over 1000workers nearly 50 had accepted the financial package of up to Rs 10 lakh while over 350 had opted for a transfer to Talegaon lastOctober
According to the workersamprsquo sources about 400 more are likely to accept the transfer to the Talegaon plant Meanwhile theState government officials informed that the Union had approached the Gujarat High Court seeking State governments interventionafter the talks with management failed The government has assured to examine the matter under the appropriate provisions of lawhttpwwwthehindubusinesslinecomtodays-papertp-newsgm-workers-stage-protest-over-compensation-packagearticle9675663eceGM Halol workers continue to protest even after plant shuts downBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesgm-halol-workers-continue-to-protest-even-after-plant-shuts-down-117050100608_1html
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Hyundai Motor India domestic sales up 57 in April The Economic Times (Web Edition)
New Delhi Indias second largest carmaker Hyundai Motor has recorded 57 percent growth in its domestic sales for the month ofApril 2017 and delivered 44758 units to its customers informed the company in a press statement The automaker sold 42351
units during April 2016
Hyundai Motor India (HMIL) has exported 11610 units in April 2017 as against 12069 units during April 2016 thereby experiencingde-growth of 38 percent Its cumulative sales for the month went up by 36 percent at 56368 units
Rakesh Srivastava Director - Sales and Marketing HMIL said Hyundai with volume of 44758 units continued its growthmomentum on a strong base of last year driven by tremendous response for the All New Global Stylish Family Sedan Xcent andcontinued strong performance of volume driving aspirational brands Grand i10 Elite i20 and Creta
Hyundai Motor India currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent VernaCreta Elantra Tucson and Santa Fe It currently exports to around 87 countries across Africa Middle East Latin America Australiaand the Asia Pacific
HMIL currently has 477 dealers and over 1250 service points across Indiahttpautoeconomictimesindiatimescomnewsindustryhyundai-motor-india-domestic-sales-up-5-7-in-april58457068Hyundai Motor sales up 36The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompanieshyundai-motor-sales-up-36article9675255ece
Top
Nissan India posts 39 sales growth in April 2017 The Economic Times (Web Edition)
New Delhi The Indian arm of Japanese automobile manufacturer Nissan Motor Companys wholesale deliveries reported anincrease of 39 percent in April 2017 to 4217 vehicles The company in a statement has credited this growth in sales to customerdemand for the Datsun redi-GO and the recently introduced new Nissan Terrano
Nissan Motor Indias 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 ampldquoNissan is proud of the performance of the recently launched new Terrano and thecontinued confidence that customers are showing in the Datsun redi-GO Across India we are strengthening our footprintintroducing products and services that customers 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 and will move the company closer to its goal of becoming amajor force in India with a 5 percent market share by 2020
Nissan together with its global alliance partner Renault have set up a manufacturing plant and a Research amp Development Centrenear Chennai Nissan in India has a portfolio of two brands Nissan and Datsunhttpautoeconomictimesindiatimescomnewsindustrynissan-india-posts-39-sales-growth-in-april-201758455499Nissan sales jump 39 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesnissan-sales-jump-39-in-aprilarticle9675182eceNissan India sales rise 39 to 4217 units in AprilFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompaniesnissan-india-sales-rise-39-4217-units-april-004Nissan India sales rise 39 to 4217 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-nissan-india-sales-rise-39-to-4217-units-in-april-2423732Terrano Datsun Redi-Go drive sales for Nissan India up 39 in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-terrano-datsun-redi-go-drive-sales-for-nissan-india-up-39-in-april-2423702
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General Motors to launch new Chevrolet Beat in India in June Daily News amp Analysis (Web Edition)
General Motors is slated to launch the new generation Chevrolet Beat in India in the third week of June according to reports TheBeat previously showcased in the Auto Expo 2016 will only be receiving cosmetic changes no mechanical ones
The news comes after General Motors halted production at its first Indian plant in Halol Gujarat as part of consolidation ofmanufacturing operations in the country All manufacturing operations will now be operated from its Talegaon plant in Maharashtra
In terms of design the new Beat will have a re-designed bumper that will boast chrome accents on the front grille new fog lamps aswell as re-designed head lamps The new car will also be given a redesigned bumper with revised tail lights
The engine of the Indian Beat will be based off the M300 platform of the outgoing model With a 10 litre 3-cylinder petrol engine or
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
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Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
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Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
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23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
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Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
Top
Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
Top
Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
Top
Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
Top
Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
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Closing
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News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Powered by Enablingbiz Esoluttions
Chennai Car market leader Maruti Suzuki is betting big on the two-pedal technology and plans to offer variations of the technologyacross its entire model range The company ampmdash whose two-pedal technologies include AGS (auto gear shift) CVT(continuously variable transmission) and AT (automatic transmission) ampmdash is targeting sales of 300000 units from thistechnology by 2020
Maruti expects to nearly double its two-pedal technology model sales from 79000 units in FY-16-17 to 150000 units in FY17-18said company officials
Going forward Marutis endeavour is to bring one of the two-pedal technologies to its models across segments in some formeither auto gear shift CVT or AT Marutis executive director RampD C V Raman said The car maker has been offering at least oneof the three versions of the two-pedal technology in each of its new launches with both Ignis and the Dzire upgrade offering AGSoptions in both petrol and diesel and Baleno offering CVT
Marutis two pedal volumes have grown from 30000 units in FY 14-15 to 54000 units in FY 15-16 to 79000 units in FY 2016-17 InMarutis current portfolio the two pedal technologies include AGS in Celerio Wagon R Alto K-10 Ignis and the new DZire CVT inBaleno and AT in DZire and Ertiga In models where two-pedal options are available the technologys share has grown from 5 inFY14-15 to 11 in FY16-17 as Maruti offers one of the three two-pedal versions on more models
Given its affordability and the fact that it compares well with manual transmission on mileage AGS is the most popular option of thethree versions
Our experience on AGS has been quite positive said a company spokesperson It accounts for over 40 sales in CelerioWagon R 13 Alto 15 Ignis 26 Besides of the total two pedal technology sold in India 54 comes from AGS However insome models the CVT works better as in Baleno while in others AT works better like Ertiga and Ciaz
Top ten markets alone contribute 44 of the two pedal technology sales industry wide making it a strictly urban phenomenon fornow So Marutis effort will be to democratise these technologies With enhanced awareness we expect more first time buyers andrural penetration said the Maruti spokesperson
In February 2014 Maruti introduced AGS with the Celerio hatchback
Till date Celerio AMT vehicles contribute over 60 to total Celerio saleshttptimesofindiaindiatimescombusinessindia-businessmarutis-two-pedal-tech-targets-3l-units-by-2020articleshow58466345cms
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Price is no longer king Maruti has a new strategy to score over rivals Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Cars are no longer just about kitna deti hai (fuel efficiency) and therefore market leader Maruti Suzuki has changed itslaunch strategy Showcasing the vehicle weeks ahead of the launch without talking about the pricing and mileage is gettingimportant to communicate in details the evolving features and design to the target segment in a crowded car market
In December last year Maruti showcased its yet to be launched car Ignis just to talk at length about its positioning design safetyand entertainment features engine type and so on The detail on price and efficiency was left to be discussed at the launch eventwhich happened a month later
Companies usually open bookings for a car a couple of weeks before the launch However there is limited information and buzz inthe market about the car when bookings open Price the key deciding factor is also not known Showcasing the car andcommunicating about it before opening the booking helps in plugging most gaps and leaves one blank information- the price- forthose looking to book A preview before launch also helps in building buyer appetite and takes away volumes from competition
ampldquoMarketing is changing day by day Earlier it used to be a linear process you identified the model went for the launch anddeclared price to sell in the market Now our approach is multi dimensional Before the launch you need to show it to select peoplefor feedback go to digital media and create the buzz This builds a sense of anticipation among customers about the model Peoplestill ask for mileage but certainly it is not the only consideration nowamprdquo said R S Kalsi executive director (marketing and sales)at Maruti Suzuki
The company which commands a 47 per cent share in domestic market has repeated the Ignis strategy for Dzire the full modelchange of its best selling compact sedan Swift Dzire Last week the company did a preview event for Dzire and sought to create abuzz while communicating about its features and design The launch when price will be announced is on May 16
Experts said the agenda of a launch event gets largely hijacked by the price announcement and its comparison with other models inthe segment Therefore it makes sense to communicate about the style features and positioning before the price launch
Rakesh Srivastava director (sales amp marketing) at Hyundai second largest player in domestic market said every manufacturer hasits own strategy ampldquoAs far as Hyundaiamprsquos strategy is concerned we spend more time in preparing a launch afterdeveloping the product A good product and effective communication strategy gets volumes When we launched Creta in 2015 wetook multiple steps before the launch Initially the image renderings were revealed then we announced the variants along withfeatures and a preview was done in Chennai So we are trend setters thereamprdquo he saidhttpwwwbusiness-standardcomarticlecompaniesmaruti-drives-new-launch-strategy-to-score-over-competition-117050100180_1html
Top
Toyota Kirloskar Motor posts 52 growth in domestic sales in April 2017 The Economic Times (Web Edition)
Bangalore Toyota Kirloskar Motor the Indian arm of Japanese automotive manufacturer Toyota Motor Corporation has registered52 percent sales growth in domestic market and sold a total of 12948 units in the month of April 2017 informed the company in apress statement
The automaker has exported 1109 units of the Etios series in April 2017 as against 978 units during April 2016 thereby witnessinggrowth of 13 percent
The company has attributed this growth to the overwhelming response the new Fortuner has received In less than six months of itslaunch the New Fortuner has sold more than 12200 units
The new Corolla Altis has also received a very good response In just one month of its launch new Corolla Altis has been a hit withIndian customers and has clocked a growth of over 75 thereby retaining its position as segment leader
N Raja Director amp Sr Vice President Sales amp Marketing Toyota Kirloskar Motor said ampldquoWe have been able to sustain arobust growth in the month of April 2017 This growth has been propelled by the overwhelming response the new Fortuner hasreceived Ever since its launch in India in 2009 the Fortuner has been an undisputed segment leader
The launch of the new Fortuner has helped us up this ante as the new Fortuner has already sold more than 12200 units in lessthan 6 months of its launch Considering the segment in which the Fortuner is present this is a great achievement for us
We are delighted to share that New Corolla Altis has received great response from customers in just one month of its launch inMarch and has contributed towards the monthly sales growth added N Rajahttpautoeconomictimesindiatimescomnewsindustrytoyota-kirloskar-motor-posts-52-growth-in-domestic-sales-in-april-201758455344Toyota Kirloskar sales surge 48 to 14057 units in April The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestoyota-kirloskar-april-salesarticle9675212eceToyota Kirloskar sales surge 48 to 14057 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-toyota-kirloskar-sales-surge-48-to-14057-units-in-apr-2423738Toyota India posts growth of 52 percent Fortuner and Corolla Altis key contributorsThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newstoyota-india-posts-growth-of-52-percent-fortuner-and-corolla-altis-key-contributors649295
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Honda Cars India domestic sales up 381 in April 2017 The Economic Times (Web Edition)
New Delhi Indian arm of Japanese car manufacturer Honda has registered monthly domestic sales of 14480 units in April 2017against 10486 units in corresponding month last year registering a growth of 381 percent informed the company in a statement
The company exported 442 units during April 2017 thereby registering cumulative sales of 14922 units
Honda Cars India also said that it has received over 25000 bookings for Honda City since its launch in mid-February and 12000bookings for WR-V since its launch in mid-March
Yoichiro Ueno President and CEO Honda Cars India said ampldquoHCIL sales continue to grow positively and we registered ourhigher ever April numbers backed by strong demand for New City 2017 and Honda WR-V The new fiscal year has begun on apositive note and we hope to continue the growth momentumamprdquo
Honda City remained the companys best selling car with 5948 units delivered to customers and WR-V acquiring the secondposition with 3266 units sold in April 2017 Honda Jazz and Honda Amaze sold 2061 units and 2029 units respectively
Honda BR-V sold 701 units and Brio sales stood at 438 units during April 2017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarshonda-cars-india-domestic-sales-up-38-1-in-april-201758460717Honda Cars India Apr domestic sales go up 38 to 14480 unitsThe Hindu (Web Edition)httpwwwthehinducombusinesshonda-cars-india-domestic-sales-go-up-38-to-14480-unitsarticle18347304eceHonda Cars India Apr domestic sales go up 38 to 14480 unitsDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-honda-cars-india-apr-domestic-sales-go-up-38-to-14480-units-2424021
Top
Tata Motors passenger vehicles continue growth momentum in April 2017 ANI
See this story in Daily News amp Analysis (Web Edition)
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched lifestyle UV Tata HEXA and its latestStyleback the Tata TIGOR
The Tata TIAGO continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS3sales leading to the need for a higher quantity of BS4 stock for April sales
The higher demand at short notice was not met in production as vendors struggled to meet with the higher demand especially inthe MHCV segments Moreover after the strong pre-buying of BS3 vehicles in March and the price increase of BS4 vehicles(especially in the MHCV and Buses at 8-10percent) demand for BS4 vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis 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 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
The companys domestic sales of Tata commercial and passenger vehicles for April 2017 were at 28844 units lower by 19percent over 35604 units in April 2016
Commenting on the sales performance Mayank Pareek president Passenger Vehicles Business Unit Tata Motors said Whilethe industry faced short-term headwinds further to the BS III verdict Tata Motors continued its robust sales performance with agrowth of 23 percent in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata HEXA
We have successfully completed the launch of Tata TIGOR across the country and are delighted that it has been well received byour customers We hope to see this momentum continue with an encouraging growth on the back of our strong product portfoliohe addedhttpwwwdnaindiacommoneyreport-tata-motors-passenger-vehicles-continue-growth-momentum-in-april-2017-2424005
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GM workers stage protest over compensation package The Hindu Business Line (Web amp Print Edition)
Ahmedabad The workers of the Indian arm of American car major General Motors India on Monday staged a symbolic protest atthe Halol plant which was permanently closed by the company recently
The workers protested against the companys transfer policy and the compensation package that was offered after GM decided toconsolidate its manufacturing activity at its second plant in Talegaon Maharashtra
The protest sit-in was held in the morning on Monday
What more ironic it can get than the workers protesting at the gates of the company on the Labour Day itself There is nocommunication from the company on our demands Now the only hope is the state government The next course of action will bedecided in a day or two said Rachit Soni President General Motors Employee Union
Soni claimed that out of the 600-odd workers over 300 workers attended the protest sit-in with placards Out of the over 1000workers nearly 50 had accepted the financial package of up to Rs 10 lakh while over 350 had opted for a transfer to Talegaon lastOctober
According to the workersamprsquo sources about 400 more are likely to accept the transfer to the Talegaon plant Meanwhile theState government officials informed that the Union had approached the Gujarat High Court seeking State governments interventionafter the talks with management failed The government has assured to examine the matter under the appropriate provisions of lawhttpwwwthehindubusinesslinecomtodays-papertp-newsgm-workers-stage-protest-over-compensation-packagearticle9675663eceGM Halol workers continue to protest even after plant shuts downBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesgm-halol-workers-continue-to-protest-even-after-plant-shuts-down-117050100608_1html
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Hyundai Motor India domestic sales up 57 in April The Economic Times (Web Edition)
New Delhi Indias second largest carmaker Hyundai Motor has recorded 57 percent growth in its domestic sales for the month ofApril 2017 and delivered 44758 units to its customers informed the company in a press statement The automaker sold 42351
units during April 2016
Hyundai Motor India (HMIL) has exported 11610 units in April 2017 as against 12069 units during April 2016 thereby experiencingde-growth of 38 percent Its cumulative sales for the month went up by 36 percent at 56368 units
Rakesh Srivastava Director - Sales and Marketing HMIL said Hyundai with volume of 44758 units continued its growthmomentum on a strong base of last year driven by tremendous response for the All New Global Stylish Family Sedan Xcent andcontinued strong performance of volume driving aspirational brands Grand i10 Elite i20 and Creta
Hyundai Motor India currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent VernaCreta Elantra Tucson and Santa Fe It currently exports to around 87 countries across Africa Middle East Latin America Australiaand the Asia Pacific
HMIL currently has 477 dealers and over 1250 service points across Indiahttpautoeconomictimesindiatimescomnewsindustryhyundai-motor-india-domestic-sales-up-5-7-in-april58457068Hyundai Motor sales up 36The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompanieshyundai-motor-sales-up-36article9675255ece
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Nissan India posts 39 sales growth in April 2017 The Economic Times (Web Edition)
New Delhi The Indian arm of Japanese automobile manufacturer Nissan Motor Companys wholesale deliveries reported anincrease of 39 percent in April 2017 to 4217 vehicles The company in a statement has credited this growth in sales to customerdemand for the Datsun redi-GO and the recently introduced new Nissan Terrano
Nissan Motor Indias 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 ampldquoNissan is proud of the performance of the recently launched new Terrano and thecontinued confidence that customers are showing in the Datsun redi-GO Across India we are strengthening our footprintintroducing products and services that customers 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 and will move the company closer to its goal of becoming amajor force in India with a 5 percent market share by 2020
Nissan together with its global alliance partner Renault have set up a manufacturing plant and a Research amp Development Centrenear Chennai Nissan in India has a portfolio of two brands Nissan and Datsunhttpautoeconomictimesindiatimescomnewsindustrynissan-india-posts-39-sales-growth-in-april-201758455499Nissan sales jump 39 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesnissan-sales-jump-39-in-aprilarticle9675182eceNissan India sales rise 39 to 4217 units in AprilFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompaniesnissan-india-sales-rise-39-4217-units-april-004Nissan India sales rise 39 to 4217 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-nissan-india-sales-rise-39-to-4217-units-in-april-2423732Terrano Datsun Redi-Go drive sales for Nissan India up 39 in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-terrano-datsun-redi-go-drive-sales-for-nissan-india-up-39-in-april-2423702
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General Motors to launch new Chevrolet Beat in India in June Daily News amp Analysis (Web Edition)
General Motors is slated to launch the new generation Chevrolet Beat in India in the third week of June according to reports TheBeat previously showcased in the Auto Expo 2016 will only be receiving cosmetic changes no mechanical ones
The news comes after General Motors halted production at its first Indian plant in Halol Gujarat as part of consolidation ofmanufacturing operations in the country All manufacturing operations will now be operated from its Talegaon plant in Maharashtra
In terms of design the new Beat will have a re-designed bumper that will boast chrome accents on the front grille new fog lamps aswell as re-designed head lamps The new car will also be given a redesigned bumper with revised tail lights
The engine of the Indian Beat will be based off the M300 platform of the outgoing model With a 10 litre 3-cylinder petrol engine or
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
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Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
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Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
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23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
Top
Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
Top
E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
Top
Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
Top
Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
Top
Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Toyota Kirloskar Motor posts 52 growth in domestic sales in April 2017 The Economic Times (Web Edition)
Bangalore Toyota Kirloskar Motor the Indian arm of Japanese automotive manufacturer Toyota Motor Corporation has registered52 percent sales growth in domestic market and sold a total of 12948 units in the month of April 2017 informed the company in apress statement
The automaker has exported 1109 units of the Etios series in April 2017 as against 978 units during April 2016 thereby witnessinggrowth of 13 percent
The company has attributed this growth to the overwhelming response the new Fortuner has received In less than six months of itslaunch the New Fortuner has sold more than 12200 units
The new Corolla Altis has also received a very good response In just one month of its launch new Corolla Altis has been a hit withIndian customers and has clocked a growth of over 75 thereby retaining its position as segment leader
N Raja Director amp Sr Vice President Sales amp Marketing Toyota Kirloskar Motor said ampldquoWe have been able to sustain arobust growth in the month of April 2017 This growth has been propelled by the overwhelming response the new Fortuner hasreceived Ever since its launch in India in 2009 the Fortuner has been an undisputed segment leader
The launch of the new Fortuner has helped us up this ante as the new Fortuner has already sold more than 12200 units in lessthan 6 months of its launch Considering the segment in which the Fortuner is present this is a great achievement for us
We are delighted to share that New Corolla Altis has received great response from customers in just one month of its launch inMarch and has contributed towards the monthly sales growth added N Rajahttpautoeconomictimesindiatimescomnewsindustrytoyota-kirloskar-motor-posts-52-growth-in-domestic-sales-in-april-201758455344Toyota Kirloskar sales surge 48 to 14057 units in April The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniestoyota-kirloskar-april-salesarticle9675212eceToyota Kirloskar sales surge 48 to 14057 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-toyota-kirloskar-sales-surge-48-to-14057-units-in-apr-2423738Toyota India posts growth of 52 percent Fortuner and Corolla Altis key contributorsThe Financial Express (Web Edition)httpwwwfinancialexpresscomautocar-newstoyota-india-posts-growth-of-52-percent-fortuner-and-corolla-altis-key-contributors649295
Top
Honda Cars India domestic sales up 381 in April 2017 The Economic Times (Web Edition)
New Delhi Indian arm of Japanese car manufacturer Honda has registered monthly domestic sales of 14480 units in April 2017against 10486 units in corresponding month last year registering a growth of 381 percent informed the company in a statement
The company exported 442 units during April 2017 thereby registering cumulative sales of 14922 units
Honda Cars India also said that it has received over 25000 bookings for Honda City since its launch in mid-February and 12000bookings for WR-V since its launch in mid-March
Yoichiro Ueno President and CEO Honda Cars India said ampldquoHCIL sales continue to grow positively and we registered ourhigher ever April numbers backed by strong demand for New City 2017 and Honda WR-V The new fiscal year has begun on apositive note and we hope to continue the growth momentumamprdquo
Honda City remained the companys best selling car with 5948 units delivered to customers and WR-V acquiring the secondposition with 3266 units sold in April 2017 Honda Jazz and Honda Amaze sold 2061 units and 2029 units respectively
Honda BR-V sold 701 units and Brio sales stood at 438 units during April 2017httpautoeconomictimesindiatimescomnewspassenger-vehiclecarshonda-cars-india-domestic-sales-up-38-1-in-april-201758460717Honda Cars India Apr domestic sales go up 38 to 14480 unitsThe Hindu (Web Edition)httpwwwthehinducombusinesshonda-cars-india-domestic-sales-go-up-38-to-14480-unitsarticle18347304eceHonda Cars India Apr domestic sales go up 38 to 14480 unitsDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-honda-cars-india-apr-domestic-sales-go-up-38-to-14480-units-2424021
Top
Tata Motors passenger vehicles continue growth momentum in April 2017 ANI
See this story in Daily News amp Analysis (Web Edition)
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched lifestyle UV Tata HEXA and its latestStyleback the Tata TIGOR
The Tata TIAGO continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS3sales leading to the need for a higher quantity of BS4 stock for April sales
The higher demand at short notice was not met in production as vendors struggled to meet with the higher demand especially inthe MHCV segments Moreover after the strong pre-buying of BS3 vehicles in March and the price increase of BS4 vehicles(especially in the MHCV and Buses at 8-10percent) demand for BS4 vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis 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 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
The companys domestic sales of Tata commercial and passenger vehicles for April 2017 were at 28844 units lower by 19percent over 35604 units in April 2016
Commenting on the sales performance Mayank Pareek president Passenger Vehicles Business Unit Tata Motors said Whilethe industry faced short-term headwinds further to the BS III verdict Tata Motors continued its robust sales performance with agrowth of 23 percent in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata HEXA
We have successfully completed the launch of Tata TIGOR across the country and are delighted that it has been well received byour customers We hope to see this momentum continue with an encouraging growth on the back of our strong product portfoliohe addedhttpwwwdnaindiacommoneyreport-tata-motors-passenger-vehicles-continue-growth-momentum-in-april-2017-2424005
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GM workers stage protest over compensation package The Hindu Business Line (Web amp Print Edition)
Ahmedabad The workers of the Indian arm of American car major General Motors India on Monday staged a symbolic protest atthe Halol plant which was permanently closed by the company recently
The workers protested against the companys transfer policy and the compensation package that was offered after GM decided toconsolidate its manufacturing activity at its second plant in Talegaon Maharashtra
The protest sit-in was held in the morning on Monday
What more ironic it can get than the workers protesting at the gates of the company on the Labour Day itself There is nocommunication from the company on our demands Now the only hope is the state government The next course of action will bedecided in a day or two said Rachit Soni President General Motors Employee Union
Soni claimed that out of the 600-odd workers over 300 workers attended the protest sit-in with placards Out of the over 1000workers nearly 50 had accepted the financial package of up to Rs 10 lakh while over 350 had opted for a transfer to Talegaon lastOctober
According to the workersamprsquo sources about 400 more are likely to accept the transfer to the Talegaon plant Meanwhile theState government officials informed that the Union had approached the Gujarat High Court seeking State governments interventionafter the talks with management failed The government has assured to examine the matter under the appropriate provisions of lawhttpwwwthehindubusinesslinecomtodays-papertp-newsgm-workers-stage-protest-over-compensation-packagearticle9675663eceGM Halol workers continue to protest even after plant shuts downBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesgm-halol-workers-continue-to-protest-even-after-plant-shuts-down-117050100608_1html
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Hyundai Motor India domestic sales up 57 in April The Economic Times (Web Edition)
New Delhi Indias second largest carmaker Hyundai Motor has recorded 57 percent growth in its domestic sales for the month ofApril 2017 and delivered 44758 units to its customers informed the company in a press statement The automaker sold 42351
units during April 2016
Hyundai Motor India (HMIL) has exported 11610 units in April 2017 as against 12069 units during April 2016 thereby experiencingde-growth of 38 percent Its cumulative sales for the month went up by 36 percent at 56368 units
Rakesh Srivastava Director - Sales and Marketing HMIL said Hyundai with volume of 44758 units continued its growthmomentum on a strong base of last year driven by tremendous response for the All New Global Stylish Family Sedan Xcent andcontinued strong performance of volume driving aspirational brands Grand i10 Elite i20 and Creta
Hyundai Motor India currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent VernaCreta Elantra Tucson and Santa Fe It currently exports to around 87 countries across Africa Middle East Latin America Australiaand the Asia Pacific
HMIL currently has 477 dealers and over 1250 service points across Indiahttpautoeconomictimesindiatimescomnewsindustryhyundai-motor-india-domestic-sales-up-5-7-in-april58457068Hyundai Motor sales up 36The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompanieshyundai-motor-sales-up-36article9675255ece
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Nissan India posts 39 sales growth in April 2017 The Economic Times (Web Edition)
New Delhi The Indian arm of Japanese automobile manufacturer Nissan Motor Companys wholesale deliveries reported anincrease of 39 percent in April 2017 to 4217 vehicles The company in a statement has credited this growth in sales to customerdemand for the Datsun redi-GO and the recently introduced new Nissan Terrano
Nissan Motor Indias 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 ampldquoNissan is proud of the performance of the recently launched new Terrano and thecontinued confidence that customers are showing in the Datsun redi-GO Across India we are strengthening our footprintintroducing products and services that customers 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 and will move the company closer to its goal of becoming amajor force in India with a 5 percent market share by 2020
Nissan together with its global alliance partner Renault have set up a manufacturing plant and a Research amp Development Centrenear Chennai Nissan in India has a portfolio of two brands Nissan and Datsunhttpautoeconomictimesindiatimescomnewsindustrynissan-india-posts-39-sales-growth-in-april-201758455499Nissan sales jump 39 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesnissan-sales-jump-39-in-aprilarticle9675182eceNissan India sales rise 39 to 4217 units in AprilFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompaniesnissan-india-sales-rise-39-4217-units-april-004Nissan India sales rise 39 to 4217 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-nissan-india-sales-rise-39-to-4217-units-in-april-2423732Terrano Datsun Redi-Go drive sales for Nissan India up 39 in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-terrano-datsun-redi-go-drive-sales-for-nissan-india-up-39-in-april-2423702
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General Motors to launch new Chevrolet Beat in India in June Daily News amp Analysis (Web Edition)
General Motors is slated to launch the new generation Chevrolet Beat in India in the third week of June according to reports TheBeat previously showcased in the Auto Expo 2016 will only be receiving cosmetic changes no mechanical ones
The news comes after General Motors halted production at its first Indian plant in Halol Gujarat as part of consolidation ofmanufacturing operations in the country All manufacturing operations will now be operated from its Talegaon plant in Maharashtra
In terms of design the new Beat will have a re-designed bumper that will boast chrome accents on the front grille new fog lamps aswell as re-designed head lamps The new car will also be given a redesigned bumper with revised tail lights
The engine of the Indian Beat will be based off the M300 platform of the outgoing model With a 10 litre 3-cylinder petrol engine or
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
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Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
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Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
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23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
Top
Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
Top
E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
Top
Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
Top
Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
Top
Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
Top
Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
Top
Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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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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Powered by Enablingbiz Esoluttions
See this story in Daily News amp Analysis (Web Edition)
In April 2017 Tata Motors passenger vehicles in the domestic market continued its growth momentum at 12827 units a growth of23 percent over April 2016 due to an encouraging response for its recently launched lifestyle UV Tata HEXA and its latestStyleback the Tata TIGOR
The Tata TIAGO continues to maintain good order pipeline
Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29 with the ban on BS3sales leading to the need for a higher quantity of BS4 stock for April sales
The higher demand at short notice was not met in production as vendors struggled to meet with the higher demand especially inthe MHCV segments Moreover after the strong pre-buying of BS3 vehicles in March and the price increase of BS4 vehicles(especially in the MHCV and Buses at 8-10percent) demand for BS4 vehicles was also weak
The commercial vehicles sales in April 2017 in the domestic market were at 16017 units lower by 36 percent over April 2016 Thisis 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 were at 30972 vehicles a de-growth of21 percent over 39389 vehicles sold in April 2016
The companys domestic sales of Tata commercial and passenger vehicles for April 2017 were at 28844 units lower by 19percent over 35604 units in April 2016
Commenting on the sales performance Mayank Pareek president Passenger Vehicles Business Unit Tata Motors said Whilethe industry faced short-term headwinds further to the BS III verdict Tata Motors continued its robust sales performance with agrowth of 23 percent in April led by a strong pipeline for Tiago and a positive response for our new lifestyle UV - Tata HEXA
We have successfully completed the launch of Tata TIGOR across the country and are delighted that it has been well received byour customers We hope to see this momentum continue with an encouraging growth on the back of our strong product portfoliohe addedhttpwwwdnaindiacommoneyreport-tata-motors-passenger-vehicles-continue-growth-momentum-in-april-2017-2424005
Top
GM workers stage protest over compensation package The Hindu Business Line (Web amp Print Edition)
Ahmedabad The workers of the Indian arm of American car major General Motors India on Monday staged a symbolic protest atthe Halol plant which was permanently closed by the company recently
The workers protested against the companys transfer policy and the compensation package that was offered after GM decided toconsolidate its manufacturing activity at its second plant in Talegaon Maharashtra
The protest sit-in was held in the morning on Monday
What more ironic it can get than the workers protesting at the gates of the company on the Labour Day itself There is nocommunication from the company on our demands Now the only hope is the state government The next course of action will bedecided in a day or two said Rachit Soni President General Motors Employee Union
Soni claimed that out of the 600-odd workers over 300 workers attended the protest sit-in with placards Out of the over 1000workers nearly 50 had accepted the financial package of up to Rs 10 lakh while over 350 had opted for a transfer to Talegaon lastOctober
According to the workersamprsquo sources about 400 more are likely to accept the transfer to the Talegaon plant Meanwhile theState government officials informed that the Union had approached the Gujarat High Court seeking State governments interventionafter the talks with management failed The government has assured to examine the matter under the appropriate provisions of lawhttpwwwthehindubusinesslinecomtodays-papertp-newsgm-workers-stage-protest-over-compensation-packagearticle9675663eceGM Halol workers continue to protest even after plant shuts downBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesgm-halol-workers-continue-to-protest-even-after-plant-shuts-down-117050100608_1html
Top
Hyundai Motor India domestic sales up 57 in April The Economic Times (Web Edition)
New Delhi Indias second largest carmaker Hyundai Motor has recorded 57 percent growth in its domestic sales for the month ofApril 2017 and delivered 44758 units to its customers informed the company in a press statement The automaker sold 42351
units during April 2016
Hyundai Motor India (HMIL) has exported 11610 units in April 2017 as against 12069 units during April 2016 thereby experiencingde-growth of 38 percent Its cumulative sales for the month went up by 36 percent at 56368 units
Rakesh Srivastava Director - Sales and Marketing HMIL said Hyundai with volume of 44758 units continued its growthmomentum on a strong base of last year driven by tremendous response for the All New Global Stylish Family Sedan Xcent andcontinued strong performance of volume driving aspirational brands Grand i10 Elite i20 and Creta
Hyundai Motor India currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent VernaCreta Elantra Tucson and Santa Fe It currently exports to around 87 countries across Africa Middle East Latin America Australiaand the Asia Pacific
HMIL currently has 477 dealers and over 1250 service points across Indiahttpautoeconomictimesindiatimescomnewsindustryhyundai-motor-india-domestic-sales-up-5-7-in-april58457068Hyundai Motor sales up 36The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompanieshyundai-motor-sales-up-36article9675255ece
Top
Nissan India posts 39 sales growth in April 2017 The Economic Times (Web Edition)
New Delhi The Indian arm of Japanese automobile manufacturer Nissan Motor Companys wholesale deliveries reported anincrease of 39 percent in April 2017 to 4217 vehicles The company in a statement has credited this growth in sales to customerdemand for the Datsun redi-GO and the recently introduced new Nissan Terrano
Nissan Motor Indias 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 ampldquoNissan is proud of the performance of the recently launched new Terrano and thecontinued confidence that customers are showing in the Datsun redi-GO Across India we are strengthening our footprintintroducing products and services that customers 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 and will move the company closer to its goal of becoming amajor force in India with a 5 percent market share by 2020
Nissan together with its global alliance partner Renault have set up a manufacturing plant and a Research amp Development Centrenear Chennai Nissan in India has a portfolio of two brands Nissan and Datsunhttpautoeconomictimesindiatimescomnewsindustrynissan-india-posts-39-sales-growth-in-april-201758455499Nissan sales jump 39 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesnissan-sales-jump-39-in-aprilarticle9675182eceNissan India sales rise 39 to 4217 units in AprilFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompaniesnissan-india-sales-rise-39-4217-units-april-004Nissan India sales rise 39 to 4217 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-nissan-india-sales-rise-39-to-4217-units-in-april-2423732Terrano Datsun Redi-Go drive sales for Nissan India up 39 in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-terrano-datsun-redi-go-drive-sales-for-nissan-india-up-39-in-april-2423702
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General Motors to launch new Chevrolet Beat in India in June Daily News amp Analysis (Web Edition)
General Motors is slated to launch the new generation Chevrolet Beat in India in the third week of June according to reports TheBeat previously showcased in the Auto Expo 2016 will only be receiving cosmetic changes no mechanical ones
The news comes after General Motors halted production at its first Indian plant in Halol Gujarat as part of consolidation ofmanufacturing operations in the country All manufacturing operations will now be operated from its Talegaon plant in Maharashtra
In terms of design the new Beat will have a re-designed bumper that will boast chrome accents on the front grille new fog lamps aswell as re-designed head lamps The new car will also be given a redesigned bumper with revised tail lights
The engine of the Indian Beat will be based off the M300 platform of the outgoing model With a 10 litre 3-cylinder petrol engine or
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
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Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
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Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
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23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
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Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
Top
Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
Top
Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
Top
Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
Top
Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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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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units during April 2016
Hyundai Motor India (HMIL) has exported 11610 units in April 2017 as against 12069 units during April 2016 thereby experiencingde-growth of 38 percent Its cumulative sales for the month went up by 36 percent at 56368 units
Rakesh Srivastava Director - Sales and Marketing HMIL said Hyundai with volume of 44758 units continued its growthmomentum on a strong base of last year driven by tremendous response for the All New Global Stylish Family Sedan Xcent andcontinued strong performance of volume driving aspirational brands Grand i10 Elite i20 and Creta
Hyundai Motor India currently has ten car models across segments ampndash Eon Grand i10 Elite i20 i20 Active Xcent VernaCreta Elantra Tucson and Santa Fe It currently exports to around 87 countries across Africa Middle East Latin America Australiaand the Asia Pacific
HMIL currently has 477 dealers and over 1250 service points across Indiahttpautoeconomictimesindiatimescomnewsindustryhyundai-motor-india-domestic-sales-up-5-7-in-april58457068Hyundai Motor sales up 36The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompanieshyundai-motor-sales-up-36article9675255ece
Top
Nissan India posts 39 sales growth in April 2017 The Economic Times (Web Edition)
New Delhi The Indian arm of Japanese automobile manufacturer Nissan Motor Companys wholesale deliveries reported anincrease of 39 percent in April 2017 to 4217 vehicles The company in a statement has credited this growth in sales to customerdemand for the Datsun redi-GO and the recently introduced new Nissan Terrano
Nissan Motor Indias 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 ampldquoNissan is proud of the performance of the recently launched new Terrano and thecontinued confidence that customers are showing in the Datsun redi-GO Across India we are strengthening our footprintintroducing products and services that customers 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 and will move the company closer to its goal of becoming amajor force in India with a 5 percent market share by 2020
Nissan together with its global alliance partner Renault have set up a manufacturing plant and a Research amp Development Centrenear Chennai Nissan in India has a portfolio of two brands Nissan and Datsunhttpautoeconomictimesindiatimescomnewsindustrynissan-india-posts-39-sales-growth-in-april-201758455499Nissan sales jump 39 in AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesnissan-sales-jump-39-in-aprilarticle9675182eceNissan India sales rise 39 to 4217 units in AprilFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompaniesnissan-india-sales-rise-39-4217-units-april-004Nissan India sales rise 39 to 4217 units in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-nissan-india-sales-rise-39-to-4217-units-in-april-2423732Terrano Datsun Redi-Go drive sales for Nissan India up 39 in AprilDaily News amp Analysis (Web Edition)httpwwwdnaindiacommoneyreport-terrano-datsun-redi-go-drive-sales-for-nissan-india-up-39-in-april-2423702
Top
General Motors to launch new Chevrolet Beat in India in June Daily News amp Analysis (Web Edition)
General Motors is slated to launch the new generation Chevrolet Beat in India in the third week of June according to reports TheBeat previously showcased in the Auto Expo 2016 will only be receiving cosmetic changes no mechanical ones
The news comes after General Motors halted production at its first Indian plant in Halol Gujarat as part of consolidation ofmanufacturing operations in the country All manufacturing operations will now be operated from its Talegaon plant in Maharashtra
In terms of design the new Beat will have a re-designed bumper that will boast chrome accents on the front grille new fog lamps aswell as re-designed head lamps The new car will also be given a redesigned bumper with revised tail lights
The engine of the Indian Beat will be based off the M300 platform of the outgoing model With a 10 litre 3-cylinder petrol engine or
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
Top
Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
Top
Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
Top
23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
Top
Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
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Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
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Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
Top
Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
Top
Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
Top
Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
Top
US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
Top
Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
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Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
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Closing
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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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Powered by Enablingbiz Esoluttions
a 10 litre SDE diesel engine both versions of the new car will have a manual five-speed transmission IT will also have a 7-inchtouch screen infotainment system
The prices of new Chevrolet beat based on ex-showroom New Delhi is expected to be between RS 5 lakh and Rs 75 lakh
The latest Beat is expected to provide competition to cars like Tata Tiago Hyundai Grand i10 Mahindra KUV 100 Honda Brio andMaruti Suzukis new Swifthttpwwwdnaindiacommoneyreport-general-motors-to-launch-new-chevrolet-beat-in-india-in-june-2017-2424103
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Luxury Cars
Commercial Vehicles
VE Commercial Vehicles sales decline by 424 in April 2017 sells 3089 units The Economic Times (Web Edition)
New Delhi VE Commercial Vehicles which is a joint venture between Volvo Group amp Eicher Motors has sold 3089 units in April2017 as compared to 5365 units in April 2016 recording an overall decline of 424 This includes 3077 units of Eicher brand and12 units of Volvo brand the company said in a media release
Eicher branded trucks amp buses have reported a total sales of 3077 units in April 2017 as compared to 5326 units in April 2016representing a decline of 4222
In the domestic market the company claims that the Eicher branded trucks amp buses have registered a decline by 445 as thecompany managed to sell 2578 units in April 2017 as compared to 4641 units in April 2016
On the Exports front 499 units of Eicher branded trucks amp buses were exported last month as compared to 685 units in April 2016
Volvo Trucks sold 12 units last month as against 39 units in April 2016httpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicles-sales-decline-by-42-4-in-april-2017-sells-3089-units58460486
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Construction amp Agri Machinery
Escorts Agri Machinery domestic sales up 18 in April The Economic Times
Faridabad Indian farm equipment manufacturer Escorts Agri Machinery Segment (EAM) has sold 4760 tractors in the domesticmarket during the month of April 2017 thereby registering year-on-year growth of 18 percent informed the company in a BombayStock Exchange (BSE) filing
It sold 4048 units during April 2016 in the domestic market
The companys exports surged 266 percent and stood at 139 units when compared with 38 units during same month previous year
Escorts Agri Machinerys cumulative sales for the month of April 2017 stood at 4899 units as against 4086 units during April 2016thereby witnessing growth of 20 percent
The company has also announced the appointment of Amanppreet Singh Bhatia as the new Group HR Head Bhatia has over 25years of experience across commercial vehicle and engineering solutions consumer durable and FMCG space
At Escorts Bhatia will focus on organisational transformation and Human Resource strategic roadmap to build a strong employerbrandhttpautoeconomictimesindiatimescomnewsautomotivefarm-equipmentescorts-agri-machinery-domestic-sales-up-18-in-april58464495
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23 Wheelers
Royal Enfield registers 25 growth in April 2017 sells 60142 units
The Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
Top
Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
Top
BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
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Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
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Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
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Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
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Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
Top
BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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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 Economic Times
New Delhi Indian two-wheeler manufacturer Royal Enfield in the month of April 2017 sold a total of 60142 units (including exports)registering a 25 growth The company sold a total of 48197 units in April 2016 the company announced this in a BSE filing
Royal Enfield motorcycles with engine capacity of upto 350cc saw an increase of 30 as it dominated the companys sales chart byselling 56349 units in April 2017
Motorcycles above 350cc category which includes motorcycles like Royal Enfield Continental GT Royal Enfield Bullet 500 andRoyal Enfield Classic 500 saw a sales decline by 23 as the company managed to sell 3793 units last month as against 4938units in April 2016
Royal Enfields exports also went up by 36 as the company exported 1578 units in April 2017 The company also announceddirect operations in Brazil last month to strengthen its presence in Latin Americahttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesroyal-enfield-registers-25-growth-in-april-2017-sells-60142-units58454789Royal Enfield sales up 25 at 60142 units in April The Hindu Business Linehttpwwwthehindubusinesslinecomcompaniesroyal-enfield-april-salesarticle9675189eceRoyal Enfield sales up 25 at 60142 units in AprilDaily News amp Analysishttpwwwdnaindiacommoneyreport-royal-enfield-sales-up-25-at-60142-units-in-april-2423743Royal Enfield sales grow 25 in AprilBusiness Standardhttpwwwbusiness-standardcomarticlecompaniesroyal-enfield-sales-grow-25-in-april-117050100713_1htmlRoyal Enfield sales up 25 per cent at 60142 units in AprilDeccan Chroniclehttpwwwdeccanchroniclecombusinessautos010517royal-enfield-sales-up-25-per-cent-at-60142-units-in-aprilhtml
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Hero MotoCorp hikes prices by up to Rs 2200 PTISee this story in The Hindu Business Line
New Delhi The countryamprsquos largest two-wheeler maker Hero MotoCorp hiked prices of its products ranging from Rs 500 to Rs2200 across models to offset the impact of rising input costs
ampldquoThe company raised the prices ranging from Rs 500 to Rs 2200 across different models to partially offset the commoditycost increases effective from May 1amprdquo Hero MotoCorp said in a statement
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN to top-end Karizma ZMR with prices rangingfrom around Rs 40000 to over Rs 1 lakh
Last month the company dispatched 591306 units of two-wheelers 349 per cent down from 612739 units in the correspondingmonth last year
ampldquoWith the ongoing marriage season the company expects to maintain the trend of robust retail sales in Mayamprdquo thetwo-wheeler major saidhttpwwwthehindubusinesslinecomcompanieshero-motocorp-hikes-prices-by-up-to-rs-2200article9675555eceHero MotoCorp hikes prices of scooters motorcycles by up to Rs2200minthttpwwwlivemintcomCompaniesiUXBIJBOLwAnswsAEGEZuKHero-MotoCorp-hikes-prices-of-scooters-motorcycles-by-up-tohtmlHero Motocorp hikes prices by up to rs2200The Pioneerhttpwwwdailypioneercombusinesshero-motocorp-hikes-prices-by-up-to-rs2200htmlHero MotoCorp hikes prices by up to Rs 2200Deccan Chroniclehttpwwwdeccanchroniclecombusinesscompanies010517hero-motocorp-hikes-prices-by-up-to-rs-2200htmlHero MotoCorp raises prices by up to Rs 2200Business Standard httpwwwbusiness-standardcomarticlecompanieshero-motocorp-raises-prices-by-up-to-rs-2-200-117050100915_1html
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Yamaha Motor India sells 68827 units in April 2017 The Economic Times
New Delhi Indian arm of Japanese two-wheeler manufacturer India Yamaha Motor has registered a growth of 8 in domesticsales by selling 68827 units (including Nepal) during April 2017 as compared to the corresponding period last year the companysaid in a media release
The company had sold 63927 units in the domestic market (including Nepal) in 2016
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
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BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
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March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
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Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
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Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
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Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
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Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
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Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
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Closing
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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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Powered by Enablingbiz Esoluttions
The introduction of new product Yamaha FZ25 and companyamprsquos increasing focus on expanding to tier-II and III cities hashelped the company to boost its overall sales the statement added
Commenting on the companyamprsquos sustained growth Roy Kurian Senior Vice President Sales amp Marketing Yamaha MotorIndia Sales Pvt Ltd said ampldquoThe sale numbers bear testimony to Yamahaamprsquos focus in growth regardless ofcircumstantial challenges like what the industry recently confronted with the ban on BS III inventory
As the company is eyeing to achieve 1 million sales in 2017 it has introduced FZ 25 the macho street bike to cater to the premiumsegments that mostly dominates the urban market On the other hand the company will remain vigilant to tier II and tier III marketsthat could see reasonable surge in scooter salesamprdquo he addedhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsyamaha-motor-india-sells-68827-units-in-april-201758463402
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Hero MotoCorp sales decline by 34 in April 2017 sells over 591 lakh units The Economic Times
New Delhi Indias largest two-wheeler manufacturer Hero Motorcorp in a BSE filing reported its wholesale sales of 591306 units inApril 2017 declining by 349 The company sold a total of 612739 units in April 2016
Hero Motorcorp has also increased the prices of its entire product portfolio ranging from Rs 500 to up to Rs 2200 due to increase incommodity costs effective from May 12017
The companys statement added The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in viewof transistion from BS III to BS IV vehicles With the ongoing marriage season the company expects to maintain the trend of robustsales in Mayhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcycleshero-motocorp-sales-decline-by-3-4-in-april-2017-sells-over-5-91-lakh-units58462949
Top
BS-III vehicles ban Two-wheeler industry took Rs 600 crore hit PTISee this story in The Economic Times
Mumbai The two-wheeler industry is estimated to have incurred a loss of Rs 600 crore due to the three-day discount offered tocustomers after the Supreme Court ordered a ban on sale of BS-III vehicles a report said
The major chunk of the loss is expected to be borne by the Original Equipment Makers (OEMS) even as retro-fitment of the unsoldvehicles to make them BS IV-compliant is also an alternative the report by ratings firm Icra said today
The apex court on March 29 banned the sale and registration of BS-III category vehicles or those not compliant with Bharat StageIV (BS IV) emission norms from April 1 The step was taken due to concerns on vehicular emission
The BS norms are emission standards imposed on automobile manufacturers which specify the maximum permissible limits forpollutants in the exhaust fumes of automobiles
The total loss for the two-wheeler industry on account of the discounts offered during March 30-31 2017 is estimated to be aroundRs 600 crore sizeable share of which would be borne by the OEMs Senior Group Vice-President at ICRA Subrata Ray said in thereport
BS IV emission norms while tightening the emission limits on existing pollutants also introduced limits on additional pollutants likenitrogen oxides
The SC ban triggered heavy discounts across the country as auto dealers including those selling two-wheelers looked to clearstocks
As many as 671 lakh two-wheelers out of over 8 lakh BS-III vehicles were impacted by the ban The dealers tried to clear theBS-III inventory as fast as possible by offering massive discounts
The resultant discount-induced fire-sales are likely to suppress the fourth-quarter earnings of automobile OEMs and in particulartwo-wheeler OEMs Icra said
ICRA also estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two- wheeler OEMs during the fourth quarter of the last fiscal
India which had been following the BS III emission regime from 2010 shifted to BS IV norms for all new two- wheelers from April 12016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions the report said
The other changes like tightening on limits of different pollutants would be met through optimisation of the combustion process and
increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
Top
March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
Top
Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
Top
E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
Top
Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
Top
Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
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Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
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Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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increasing the volume and surface area of catalyst used in the catalytic converter it addedhttpautoeconomictimesindiatimescomnewstwo-wheelersmotorcyclesbs-iii-vehicles-ban-two-wheeler-industry-took-rs-600-crore-hit58462744BS-III vehicles ban 2-wheeler industry took Rs 600-crore hitThe Tribunehttpwwwtribuneindiacomnewsbusinessbs-iii-vehicles-ban-2-wheeler-industry-took-rs-600-crore-hit400675htmlBS-III vehicles ban Two-wheeler industry took Rs 600cr hitDaily News amp Analysishttpwwwdnaindiacommoneyreport-bs-iii-vehicles-ban-two-wheeler-industry-took-rs-600cr-hit-2424084BS-III vehicles ban Two-wheeler industry took Rs600 crore hit says Icra reportminthttpwwwlivemintcomIndustryWgwHlE1tRXckT4HKJTrwXPBSIII-vehicles-ban-Twowheeler-industry-took-Rs600-crore-hhtmlBS-III vehicles ban Two-wheeler industry took Rs 600 crore hitDeccan Heraldhttpwwwdeccanheraldcomcontent609303bs-iii-vehicles-ban-twohtml
Top
March-end discounts to impact 2wheeler OEMacirceurotrades Q4 earnings ICRA The Economic Times
New Delhi The Supreme Court decision on March 29 2017 to ban the registration and sale of vehicles which are not compliant withBharat Stage IV (BS IV) emission norms from April 1 2017 and the resultant discount-induced fire-sales that ensued are likely tosuppress the fourth-quarter earnings of automobile Original Equipment Manufacturers (OEMs) and in particular two-wheeler OEMs
ICRA estimates that the costs associated with the heavy discounting during the March 30-31 period would have a 150-165 bpsimpact on the operating profitability of two-wheeler OEMs during the fourth quarter of FY2017
According to Subrata Ray Senior Group Vice President ICRA ampldquoThe total loss for the two-wheeler industry on account of thediscounts offered during March 30-31 2017 is estimated to be around Rs 600 crore sizeable share of which would be borne by theOEMsamprdquo
India which had been following the BS III emission regime from 2010 had shifted to BS IV norms for all new two-wheelers fromApril 1 2016 and was required to do so for all existing vehicles from April 1 2017
The major change in a two-wheeler on migration to BS IV norms would be the inclusion of carbon canisters to control evaporativeemissions while other changes like tightening on limits of different pollutants would be met through optimisation of the combustionprocess and increasing the volume and surface area of catalyst used in the catalytic convertor
The cost differential between BS III and BS IV compliant vehicles is not expected to be significant and would be in the range of2-3 of the price of the vehicle (to vary with power and displacement of vehicle) said ICRA
As per data submitted by the OEMs to Society of Indian Automobile Manufacturers (SIAM) the unsold BS III two-wheeler inventorylevels as on March 20 2017 was around 671 lakh which is close to half the monthly sales of the overall two-wheeler industry
Adds Ray ampldquothe unsold BS III inventory in the system has been valued at close to Rs 400 crore a significant proportion ofwhich is likely to get diverted to export markets where the emission norms are less stringent Although retro-fitment of the unsoldvehicles to make them BS IV compliant is also an alternative there would be incremental costs associated with the recall andengine recalibrationamprdquo
The impact on OEMs is expected to continue into Q1 FY2018 as well on account of costs associated with recall and retro-fitmentalthough the same is not expected to be very significant added the ratings agencyhttpautoeconomictimesindiatimescomnewstwo-wheelersscooters-mopedsmarch-end-discounts-to-impact-2wheeler-oems-q4-earnings-icra58459449
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Volume growth to keep TVS Motors valuations high Ashutosh ShyamThe Economic Times
The stock of TVS Motor Indias leading two-wheeler company has gained 30 in the last three months catapulting it into theranks of the most expensive in the auto space The stock is trading at a price-earnings (PE) multiple of 30 times its projectedone-year forward earnings
However there are a couple of triggers that are likely to keep the PE multiple of the stock elevated
The companys volume growth is likely to outperform the two-wheeler industry growth for the current fiscal by 3-4 thanks to amodel launch in motorcycle and scooter segment each
The companys management said the two-wheeler industry growth is estimated at 6-8 for the FY18 and it plans to add 150 basispoints market share in the same period It gained 70 basis points market share to 14 in the two-wheeler market in FY17
The company had 147 and 7 market share respectively in motorcycle and scooter segment in FY17 Analysts are pricing in
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
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Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
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Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
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Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
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BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
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Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
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Closing
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Powered by Enablingbiz Esoluttions
volume growth of 12-14 for the current year
The expected volume growth for the current fiscal is one of the highest in the two-wheeler space TVS sold 2926 lakh vehicles inthe previous fiscal
Beside the joint development agreement to manufacture premium bikes with BMW has potential to boost the margin and averagerealisation as production ramps up TVS Motor has delivered 4500 units of G310 bikes to BMW in the previous fiscal
Analysts believe that joint development arrangement of TVS-BMW is similar to one between Bajaj and Austrian company KTM Thebikes sold by KTM enjoy margins of more than 20 Hence if bikes delivered to BMW fetch margins close to KTM it would be 28times higher than current margin of 75
The companys management has indicated margins would hit double-digits in the next four to six-quarters
Analysts say the companys margin target is too optimistic given that margins have been flattish in the past two years despite thebenefit of higher volumes and lower commodity prices
The volume growth of more than 10 annualised in the current and next fiscal is likely to lower fixed costs Also the ramp-up ofvolumes from BMW has potential to add another 100 basis points to margins
The benefit of lower fixed costs and superior margins on the supply of BMW vehicles could reduce the yawning gap companysmargin target and analyst estimates
Besides this the valuation could get a boost when its stake in TVS Motor Services which is engaged in financing of vehicles andhas a loan book of Rs 5000 crore is taken into account Half of the TVS Motor Services books are from the financing oftwo-wheeler segment and balance from cars and tractors
TVS Motor has invested Rs 610 crore as equity in the TVS Motor Services TVS Motors fair value could go up Rs 20-25 per shareonce the Street starts ascribe value to TVS Motor Serviceshttpautoeconomictimesindiatimescomnewsauto-financevolume-growth-to-keep-tvs-motors-valuations-high58452864
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E-Bikes
Components
Foundry industry seeks government support to tackle growing imports The Hindu Business Line
Chennai Even as it embarks on internal improvement measures the domestic foundry industry seeks governmentintervention to stay competitive amid the onslaught of the Chinese imports
The industry pointed to the growing imports in sectors such as wind turbine industry
After getting support from the government the domestic wind turbine industry uses imported castings from China to build theirturbines
ampldquoThe difference between the cost of the castings manufactured by China and that by India is 15-20 per cent If the Indiangovernment provides the local industry with higher exemptions it will help In simple terms cost-to-cost we are matching theChinese only the subsidy portion is a challengeamprdquo said Nithyanandan Devaraaj Honorary Secretary of Institute of IndianFoundrymen
Drive localisationIndustry representatives also wanted the government to put a cap on use of imported parts while urging the industry to drivelocalisation They cited the case of metro rail segment which is indigenising parts at a rapid pace
ampldquoThe government should insist that wind turbine makers buy some portion of parts from domestic companiesamprdquo felt VNarasimhan Executive Director Foundry Division Brakes India
In 2016 the wind turbine industryamprsquos estimated requirements were about 120000 tonnes of castings valued more than Rs1500 crore But turbine markers imported about a lakh tonnes of castings from China
Devaraaj stated that the governmentamprsquos efforts to ensure a level-playing field through levy of CVD last year has not helped theindustry ampldquoWe have already made a submission to the government on thisamprdquo he added
Reclassify unitsThe foundry industry has also requested the government to effect some changes in the technology development fund schemewhich is aimed at helping MSMEs
ampldquoSince most of the companies have moved from MSME status to a larger industry we have requested the government to
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
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Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
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Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
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Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
Top
Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
Top
BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
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Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
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Closing
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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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Powered by Enablingbiz Esoluttions
reclassify the units by increasing the cap to Rs 75 crore This will help foundries turn greener and improve productivity due totechnology upgradationamprdquo said Devaraaj
He also pointed out that foundry production should be trebled from 10 million tonnes to help the manufacturing sector to grow itsshare in GDP from 15 per cent to 20 per cent ampldquoSuch expansion will attract $3 billion investments and generate several lakhsof jobsamprdquo he added
The foundry industry is also working on measures to reduce consumption of water cut in use of power by up to 20 per cent andimprove productivityhttpwwwthehindubusinesslinecomtodays-papertp-newsfoundry-industry-seeks-government-support-to-tackle-growing-importsarticle9675661ece
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Allied Industries
Ceat performance in the March quarter skids on higher material costs Vatsala Kamatmint
The fortunes of the RPG group owned Ceat Ltd as is the case with all tyre firms are closely tied to rubber prices given that itaccounts for about two-thirds of the total cost of manufacturing a tyre
Although rubber price (RSS Grade-4) has receded in the past few weeks a steep rise during the March quarter took a toll onCeatamprsquos operating performance
Sales figures mirrored management commentary in the analystsamprsquo conference call that the company was yet to recovercompletely from the demonetisation blues that had impacted sales especially in the after-sales market
This segment comprises about 63 of the total sales Therefore Ceatamprsquos net revenue for the quarter at Rs14578 crore wasonly 55 higher than the year-ago period and fell short of Bloombergamprsquos average forecast
Operating profitability too failed to measure up to analystsamprsquo expectations as Ceatamprsquos performance got wedgedbetween low sales and a spike in costs
So against expectations of a 105 operating margin Ceat posted 92 which was a huge drop of 420 basis points (bps) from ayear ago and 170 bps down from the December quarter which was bad too Weak sales translated to weak operating profit that fellby 29 One basis point is one-hundredth of a percentage point
Further Ceatamprsquos net profit was also affected by a voluntary retirement scheme of Rs125 crore adjusting for which the netprofit fell around 28 against a year ago On Friday the stock fell 15 Of course it had appreciated since February whenanalysts felt falling rubber prices and weakening competition from Korean and Chinese tyre imports should bring good tidings for theindustry
At 16 times estimated earnings per share which is not cheap the stock needs to jump back into the higher profitability bandVolume growth is therefore key
Alongside if the trend of falling rubber prices continues into the next few quarters profit margins will also get better which will helpsupport valuationshttpwwwlivemintcomMoneyV9CabS8iCjqo42PWtfFvmICeat-performance-in-the-March-quarter-skids-on-higher-materihtml
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Emissions Environment
Finance amp Insurance
Shriram Transport Finance a year of single digits Pallavi Pengondamint
The fourth quarter results of Shriram Transport Finance Co Ltd (STFC) a non-banking finance company engaged in commercialvehicle finance were discouraging The transition to recognizing non-performing assets (NPA) to 120 days from 150 days has hit ithard Note that NPA recognition from the March 2016 quarter to the December 2016 quarter was maintained on the basis of 150days
Accordingly its net profit dropped to about Rs150 crore from over Rs300 crore each in the first three quarters of financial year 2017
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
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Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
Top
BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
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Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
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Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
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Closing
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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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Powered by Enablingbiz Esoluttions
In fact March quarter gross NPAs increased 256 compared to the December quarter slightly higher than expectations
The good news is the impact of demonetisation seems to be waning says the firm Hints of recovery post demonetisation arevisible For instance disbursements increased 29 sequentially though they were 17 lower compared to the same period lastyear But the base was higher in last yearamprsquos March quarter Assets under management (AUM) grew at 8 far slower thanthe 15 growth seen in the December quarter
But itamprsquos not just the March quarter On the whole STFCamprsquos financial year 2017 performance was nothing to write homeabout As analysts from Antique Stock Broking Ltd point out FY17 could best be described as a year where everything revolvedaround single digitsampmdashAUM grew 8 income grew 8 and earnings grew 7 Growth was impacted by general slowness inthe Indian economy discontinuing of finance for vehicles older than 10 years and demonetisation As such Shriram Transportreported its lowest-ever profitability in the last 10 years (return on assets of 16) said Antique in a report on 28 April
True the stock has recovered from its low after demonetisation but it has still underperformed the SampP BSE 100 index Whilevaluations donamprsquot look expensive the outlook for the share is dull Analysts from Emkay Global Financial Services Ltd pointout that Shriram Transportamprsquos valuations at 2 times financial year 2019 expected price-to-adjusted book value appears cheap(relative to peers) but that needs to be seen in the context of the asset quality overhang and relatively weak return ratios Thebrokerage has cut its financial year 2018-2019 earnings estimates by about 15 each and maintains its ampldquoreduceamprdquo callon the stock
Emkayamprsquos key concerns are large balance sheet size constraining growthmargins slower pace of recoveries resulting inelevated non-performing loans and credit costs and regulatory costs weighing down on return ratios This year STFC aims to clock12-15 AUM growth Improvement in the rural economy and pick-up in infra spending should help in achieving that targethttpwwwlivemintcomMoneyaieAQpJAargYs4xN7pTLbNShriram-Transport-Finance-a-year-of-single-digitshtml
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Oil Lubricants amp Alternative Fuels
IGL acquires two steel pipelines from GAIL The Hindu Business Line
New Delhi Indraprastha Gas Ltd has taken over two steel pipelines in Delhi from one of its promoter GAIL (India) Ltd
The total length of pipelines acquired stands at 585 km
An official statement said ampldquoThese pipelines ampndash one connecting GAIL DESU terminal near ITO with Maruti terminal inGurugram and the other connecting GAIL DESU terminal with Khera Kalan village near Rohini form a major part of the network ofsupply of natural gas in the national capitalamprdquo
The gas loopDelhi receives its natural gas supply from Hazira-Vijaipur-Jagdishpur (HVJ) pipeline of GAIL The pipeline connects at the DESUterminal near ITO and Maruti terminal in Gurugram
GAIL had been operating a 34-km pipeline connecting Maruti terminal with DESU terminal traversing through Dhaula Kuan to ITOalong Ring Road and 245 km pipeline connecting DESU terminal and Khera Kalan near Rohini going along Outer Ring Road
IGL has laid its own 23 km long pipeline from Dhaula Kuan to Rohini to complete the natural gas loop around Delhi
With this transfer of pipelines the entire ring of natural gas pipeline infrastructure in the Delhi will be maintained by IGLhttpwwwthehindubusinesslinecomtodays-papertp-newsigl-acquires-two-steel-pipelines-from-gailarticle9675666ece
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Oil slips below $52 as US drilling China worries weigh ReutersSee this story in The Hindu Business Line
Tokyo Oil edged below $52 a barrel on Monday as rising crude output and drilling in the United States countered OPEC-ledproduction cuts aimed at clearing a supply glut
US drillers added nine oil rigs in the week to April 28 bringing the count to the most since April 2015 energy services companyBaker Hughes had said on Friday
Crude output in the United States has hit its highest since August 2015 government data shows
ampldquoThe U rig count indicates that there is plenty more to comeamprdquo analysts at JBC Energy said in a report referring to theoutlook for US production
Global benchmark Brent crude for July was down 33 cents at $5172 a barrel by 0907 GMT U crude for June was down 27 cents
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
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News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
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BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
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International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
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US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
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Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
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Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
Top
BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
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Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
Top
Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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
at $4906 a barrel
Prices also came under pressure after an official survey showed on Sunday that growth in Chinese manufacturing slowed fasterthan expected in April potentially weighing on the outlook for oil demand
ampldquoThe moderation in the China PMI (purchasing managers index) could see commodity prices come under some modestpressureamprdquo ANZ bank said in a note
US output gains are limiting the impact of efforts led by the Organization of the Petroleum Exporting Countries to cut output byalmost 18 million barrels per day for six months until June to banish a persistent glut
OPEC and participating non-OPEC countries meet on May 25 to discuss whether to extend the reduction
Given that inventories remain high and prices are half their mid-2014 level OPEC members including top exporter Saudi Arabiasupport prolonging the curbs
Irans oil minister had said on Saturday that OPEC and non-OPEC producers had given positive signals for an extension of outputcuts which Tehran would back
Despite OPECs efforts the oil glut has been slow to shift The International Energy Agency said in its latest monthly market reportthat oil stocks in industrialised countries were about 336 million barrels above the five-year average a key indicator for OPEChttpwwwthehindubusinesslinecommarketscommoditiesoil-prices-inch-down-on-high-stocksarticle9674962ece
Top
News Magazines
BMW K 1600 GTL an overview Autocar India
Itamprsquos like an American bagger except with German sensibilities The K 1600 GTL is the top-of-the-line tourer in BMWMotorradamprsquos range and is powered by a 1649cc inline-six liquid-cooled engine that puts out 160hp at 7750rpm and 175Nmat 5250rpm Power is sent to the rear wheel via a shaft drive through a six-speed gearbox
The suspension set-up consists of the Duolever system up front which consists of a central spring strut and the Paraleversuspension round the back with a monoshock The K 1600 GTL measures a good 2489mm in length with a wheelbase of1618mm seat height of 750mm and wet weight of 350kg
As befits a luxury tourer the K 1600 GTL comes crammed with equipment and features It gets ABS Pro electronically adaptivesuspension three riding modes and dynamic traction control Comfort features include central locking heated seat electricallyadjustable windscreen switchgear-mounted multi-controller and adjustable seat height Optional equipment includes reversing aidAkrapovic sports silencer adaptive headlight emergency call system hill start assist keyless ride front speakers shift assist andadditional luggage bins
The K 1600 GTL is priced at Rs 259 lakh (Standard) and Rs 285 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-k-1600-gtl-an-overview-404801aspx
Top
BMW S 1000 Series An overview Autocar India
BMW Motorrad has been one of the newer entrants in the inline-four supersport game What started off as a homologation specialto go racing with has now ended up becoming a series that now spans three different types of motorcycles These are all poweredby 999cc inline-four liquid-cooled engines sitting in aluminium composite bridge frames These bikes are optimised forperformance This reflects not only in their motors but also in other parts of the bikesamprsquo construction such as the use ofdouble-sided swingarms and chain drive as compared to BMWamprsquos usual single-sided ones and shaft drive The S 1000 seriesconsists of three motorcycles ampndash the S 1000 RR S 1000 R and S 1000 XR
S 1000 RRThe S 1000 RR is the sportiest motorcycle in BMW Motorradamprsquos range (save the limited-edition HP4 hyperbike) It gets thesame basic inline-four liquid-cooled engine as the rest of the S 1000 series except with tweaks like titanium valves and acompression ratio of 131 that help squeeze out 199hp at 13500rpm and 113Nm at 10500rpm
The suspension set-up consists of adjustable 46mm inverted forks up front and an adjustable monoshock round the back The S1000 RR is 2050mm long with a wheelbase of 1438mm and a seat height of 815mm The bike weighs in at 208kg (wet) and getsa 175-litre fuel tank Standard equipment includes dynamic traction control amplsquorainamprsquo amplsquosportamprsquo andamplsquoraceamprsquo riding modes ride-by-wire and switchable ABS Optional equipment includes amplsquoslickamprsquo andamplsquouser modeamprsquo riding modes ABS Pro launch control pit lane limiter and shift assist
The S 1000 RR is priced at Rs 189 lakh (Standard) and Rs 214 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
Top
International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
Top
US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
Top
Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
Top
Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
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Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
Top
BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
Top
Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
Top
Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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
S 1000 RThe S 1000 R is the roadster (naked) of the S 1000 family The 999cc inlineampndashfour liquid-cooled engine here makes 165hp at11000rpm and 114Nm at 9250rpm and sports a lower compression ratio (as compared to the RR) of 1211
The suspension set-up on the R is the same as that on the RR with adjustable 46mm inverted forks up front and an adjustablemonoshock round the back The 2057mm long bike has a wheelbase of 1439mm seat height of 814mm and wet weight of 205kgStandard equipment includes switchable Race ABS shift assist and two riding modes ampndash amplsquorainamprsquo andamplsquoroadamprsquo One can also get amplsquodynamicamprsquo and amplsquodynamic proamprsquo modes as options as well as ABSpro launch control a pit lane limiter heated grips LED turn indicators lighter HP forged wheels and an engine spoiler
The S 1000 R is priced at Rs 169 lakh (Standard) Rs 179 lakh (Sport) and Rs 189 lakh (Pro) (all prices ex-showroom Delhi)
S 1000 XRThe XR is the sports tourer of the S 1000 family with its 999cc inline-four liquid-cooled motor making 165hp at 11000rpm and114Nm at 9250rpm While it rides on the same basic suspension set-up as the RR and R ampndash adjustable 46mm inverted forksup front and an adjustable monoshock round the back ampndash the suspension travel is increased to 150mm (front) and 140mm(rear) as opposed to 120mm (front and rear) for the RR and R
The XR is longer than its siblings at 2183mm with a wheelbase of 1548mm a high seat height of 840mm and wet weight of228kg The tank also gets a higher 20-litre capacity as opposed to the RR and R
Standard equipment includes amplsquorainamprsquo and amplsquoroadamprsquo riding modes switchable ABS and automatic stabilitycontrol The dynamic and touring packages are optional
The S 1000 XR is priced at Rs 185 lakh (Standard) and Rs 215 lakh (Pro) (all prices ex-showroom Delhi)httpwwwautocarindiacomauto-newsbmw-s-1000-series-an-overview-404791aspx
Top
International News
Opel to build new Corsa model with Peugeot technology ReutersSee this story in The Economic Times
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
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 Spainhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsopel-to-build-new-corsa-model-with-peugeot-technology-report58460808
Top
US to probe Japanese German automakers over alleged patent violations ReutersSee this story in The Economic Times
Tokyo The United States will begin an investigation into whether thermoplastic components used in some Japanese and Germanvehicle models sold in the country violate its patent laws trade authorities said late last week
The US International Trade Commission (USITC) on Friday listed 25 companies in the probe including BMW Honda Motor ToyotaMotor along with Japanese parts suppliers Aisin Seiki and Denso
The probe was initiated by patent holding firm Intellectual Ventures II which in March filed a complaint alleging that thermoplasticparts used in motors water pumps electronic power steering units and other powertrain parts made by or used in vehicles sold bythe companies infringe on its patents
Used in parts which come in contact with high-temperature auto components thermoplastics are more lightweight and durablecompared with other materials used in vehicle powertrains helping to increase efficiency and improve fuel economy
The complaint affects vehicle models sold in the United States including the 2016 Toyota Camry 2017 Honda Accord and the 2016BMW 228i according to the patent company
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
Top
Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
Top
Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
Top
Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
Top
BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
Top
Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
Top
Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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
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Powered by Enablingbiz Esoluttions
The USITC said it would set a target date to complete its investigation within 45 days of starting the probe
Shares in Honda and Toyota were little changed during the Tokyo session on Monday
A Toyota spokeswoman declined to comment on the issue while officials in Japan at BMW Honda Aisin and Denso were notimmediately available for commenthttpautoeconomictimesindiatimescomnewsindustryus-to-probe-japanese-german-automakers-over-alleged-patent-violations58455559US to probe Japanese German automakers over alleged patent violationsThe Hindu Business Linehttpwwwthehindubusinesslinecomnewsworldus-to-probe-japanese-german-automakers-over-alleged-patent-violationsarticle9675114eceUS to probe Japanese German automakers over alleged patent violationsThe Indian Expresshttpindianexpresscomarticlebusinesscompaniesus-to-probe-japanese-german-automakers-over-alleged-patent-violations-4635170
Top
Continentals main focus for Vienna Motor Symposium is a hybrid diesel vehicle The Economic Times
Auburn Hills Michigan German automotive technology manufacturing company Continental is going to present products andsolutions for reduced emissions and improved efficiency focusing particularly on varying levels of electrification at the 38thInternational Vienna Motor Symposium
The company said in a statement that itamprsquos main highlight in Vienna will be a super-clean 48-volt hybrid diesel vehicle whichmeets very stringent RDE (real driving emissions) limits on CO2 und NOx
ampldquoFor Continental powertrain electrification will be key to shaping the future of mobilityamprdquo said Kregg Wiggins seniorvice president Powertrain Division North America at Continental
ampldquoWhether with or without combustion engines the focus must be on intelligently utilising the full potential of the vehicle as aholistic system Connectivity both in and beyond the vehicle is one of a number of approaches offering important potential forreducing emissions and improving efficiencyamprdquo
Talking about the super-clean 48-volt hybrid diesel technology the company said it combines electrification-based engineoptimisation and an electrically heated catalyst integrated in the exhaust after treatment system to achieve a 60 percent reduction inreal-world NOx emissions and a simultaneous two percent reduction in CO2 emissions measured against the baseline Euro 6bvehicle
The first 48-volt diesel hybrid has already gone into production in Europe and a second production launch is already in the pipelinefor 2017
ampldquoThis highlights the potential of our 48-volt technology Particularly in Europe a clear trend in this direction is already visibleand customers in the US are expressing interest as wellamprdquo said Juergen Wiesenberger Head of Hybrid Electric Vehicles atContinental North Americaamprdquohttpautoeconomictimesindiatimescomnewsauto-technologycontinentals-main-focus-for-vienna-motor-symposium-is-a-hybrid-diesel-vehicle58457261
Top
Petrol variant of Maserati Levante S SUV launched in UK The Economic Times
New Delhi Luxury car manufacturer Maserati GB has launched the petrol variant of its Levante SUV in the United Kingdom thecompany said in a media release
Maserati Levante is the first ever SUV by the company and now gets the V6 430hp 30-litre twin turbo petrol engine built by Ferrarithat boasts a top speed of 164mph
The petrol unit joins the V6 275hp 30-litre turbo diesel powertrain already available on the Levante in the UK
The Levante SUV also features the Q4 AWD system as standard on all versions and is also available to the existing Maserati range
Peter Denton Region Manager Maserati North Europe commented ampldquoFollowing the launch of the diesel-powered Levante inthe UK it became clear there is also a demand for the luxury SUV in a petrol-powered version With the Levante now available inthe UK with our V6 430hp petrol engine we can offer the performance synonymous with Maserati along with the great off-roadcapabilities and sophistication we designed when creating the Levanteamprdquo
The Levante S petrol will start at pound 7075500 OTR and can be further personalised with a wide range of optional equipmenthttpautoeconomictimesindiatimescomnewspassenger-vehicleuv-petrol-variant-of-maserati-levante-s-suv-launched-in-uk58459701
Top
Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
Top
BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
Top
Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
Top
Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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
Autonomous car start-up Zoox hires ex-Ferrari exec Lanzone ReutersSee this story in The Economic Times
New Delhi Autonomous vehicle start-up Zoox said on Monday Corrado Lanzone former operations director of Ferrari SpAs racingdivision has joined the California-based company as its vice president of manufacturing operations
Lanzone joins Zoox after a two-decade career at Scuderia Ferrari where he oversaw manufacturing purchasing quality assuranceand managed relationships with more than 100 Tier-1 suppliers the Silicon Valley company said in a statement
He also contributed to a team that won eight World Constructors Championships and six World Drivers Championships thehighest awards in Formula One
Zoox said Lanzones expertise would help the company execute on our ambition to deliver autonomous mobility withoutcompromise
This is the second notable executive announcement by Zoox following the hiring of former top US safety regulator Mark Rosekindwho joined the auto start-up as its chief safety innovation officer last monthhttpautoeconomictimesindiatimescomnewsindustryautonomous-car-start-up-zoox-hires-ex-ferrari-exec-lanzone58460135
Top
BMW Designworks amp Shell collaborates in hydrogen refueling technology The Economic Times
Munich BMW Group subsidiary Designworks and oil manufacturer Shell have collaborated in the development of an innovativehydrogen dispenser that claims to improve the refuelling experience BMW said in a media release
Hydrogen vehicles have proved to become an important low carbon transport option for the future The new dispenser design willcreate a better experience for hydrogen drivers on the forecourt and help to encourage the adoption of hydrogen as a transport fuelof the future The dispenser was launched at the Hannover Fair in Germany held last week
BMW Group subsidiary Designworks a design studio was commissioned by Shell to develop the design of a new hydrogendispenser Designworks approached the project applying BMWs research and design process ampldquoFixsternamprdquo (fixed star)
ampldquoNext to enabling product innovation one of the most important benefits of the Fixstern process is its power to createcommitment for a common goal by providing a tangible vision that multiple project partners can work towardsamprdquo says SonjaSchiefer Director of the Munich studio of Designworks
Hydrogen dispenser models currently available in the market are based on those designed for conventional fuels To inspire a worldof clean energy Designworks created Oasis a dispenser concept that departs from the ampldquoHamprdquo or ampldquoLamprdquoshaped fuel dispensers currenty used It introduces a new product typology with an ampldquoIamprdquo shaped pillar-like design with afriendly appeal Oasis takes inspiration from natural forms and elegantly rises upwards creating a beacon both from close up andfrom a distance
The Shell dispenser design proves to be clean and simple with all mechanical parts made invisible When approaching thedispenser the user will experience a light guidance system a generous information screen and an innovative nozzle for refuelling
The light concept helps guide the overall flow of cars on the forecourt by providing precise and clearly visible information about thedispenserampacutes occupancy and the remaining fueling time A concise graphical communication concept was developed for theinteraction screen on the front of the dispenser to provide clear and easily accessible information It allows users to keep track oftheir refuelling time and price request maps to check route details or dive deeper into the world of hydrogen
For the refuelling nozzle the design team created a new pick up and mount mechanism which provides a highly intuitive way ofremoving and returning the nozzle The screen is integrated directly into the nozzle guiding the user through the refueling processstep by step Beyond offering an innovative refuelling experience the new dispenser concept with its clean design language andeasy to use functionality makes a clear statement about the future of hydrogen
Oliver Bishop Hydrogen General Manager at Shell said ampldquoCustomers are at the heart of what we do We are pleased to havecollaborated with Designworks in the development of a new hydrogen dispenser that will allow us to provide customers an improvedhydrogen experience It will not only make refuelling seamless it will also help make hydrogen fuel an even more attractive option inthe futureamprdquohttpautoeconomictimesindiatimescomnewsauto-technologybmw-designworks-shell-collaborates-in-hydrogen-refueling-technology58454462
Top
Elon Musk teases self-driving truck other future plans at TED talk AFPSee this story in The Times of India
Elon Musk paused while chatting about his series of potentially world-changing endeavors to say he isnt in it to provide salvation
It was during a talk on Friday at a prestigious TED Conference in Vancouver where the tech entrepreneur was discussing his
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
Top
Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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
ventures building electric cars and trucks rockets a newly launched tunnel-boring company and even dabbling with super-fastmass transit
Im not trying to be anyones savior Musk said while discussing colonizing Mars and other dreams I am just trying to think aboutthe future and not be sad
Youll tell me if it ever starts getting genuinely insane right the Silicon Valley star known for turning his passions into visionaryenterprises added playfully
Musk went on to tease the audience with a photo of a self-driving truck that his company Tesla Motors is adding to its line of electriccars
Describing the vehicle as powerful enough to tow a regular big rig up a hill he said it would handle like a sports car
When I was driving the test prototype for the first truck it was really weird he said I thought This is crazy driving this largetruck and its doing these amazing maneuvers
A founder of the PayPal online payment system as well as Tesla and SpaceX the maker and launcher of rockets and spacecraftMusk is also working on building tunnels more efficiently at his aptly named Boring company
Describing traffic jams as soul-crushing he said they could be eliminated by building multi-level tunnel networks for cars
His company is already trying to bore tunnels under Los Angeles he said
The Boring company has a pet snail named Gary that inches along far faster than the current machines used to create tunnels headded
His machines would build small-bore tunnels faster than Gary in what he said would be a major cost-saving advance
A concept video illustrated how cars might someday drive from streets onto sleds lowered into tunnels and be whisked on their way
Musk also described dabbling with an ultra-fast rail transport system known as Hyperloop that he detailed in a paper several yearsago inviting entrepreneurs to make it real
In his vision Hyperloop pods would zip along vacuum-sealed tubes in tunnels that could conceivably be built by the Boringcompany
But Musk devotes only two or three percent of his time to the Boring company he said calling it more of a hobby -- and boastingthat it is nevertheless making good progress
Although he also admires flying innovations witnessed by his SpaceX endeavors Musk isnt keen on the idea of cars in the sky
If there were a whole bunch of flying cars going all over the place thats not an anxiety-reducing situation he quipped
Youre thinking Did they service their hub cap or is it going to come off and guillotine me
Musk depicted a not-to-distant future in which solar roof tiles generate electricity in homes and people share self-driving electriccars
With his first lithium battery Gigafactory ramping production in the United States he revealed that he would announce plans laterthis year for as many as four more facilities to address the global market
Musk also shrugged off criticism for agreeing to take part in advisory councils to US President Donald Trump
They meet approximately once a month and essentially consist of going around a room asking opinions
I have used them thus far to argue in favor of immigration and in favor of (addressing) climate change he said
That wasnt on the agenda before he added Maybe nothing will happen but at least the words were said
One of Musks latest big ideas is to send space tourists on trips around the moon
There have to be reasons you get up in the morning and want to live he said of pursuing big dreams such as space exploration
If the future doesnt include being out there in the stars being a multi-planet species that is incredibly depressinghttptimesofindiaindiatimescomautomiscellaneouselectric-cars-how-india-and-the-world-is-looking-to-drive-greenarticleshow58442018cms
Top
Your keyless car can be hacked for as low as $20 Asian Age
Are you a tech savvy person Do you prefer loads of hi-tech stuff on your car Does your car have a keyless entry key fob Wellyou are in grave danger Someone can drive away your car with the help of cheap hardware literally
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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
A group of Chinese researchers has shown the world that some cheap $20 hardware from China can let them drive away yourBMW or Mercedes without any hint of stealing it Their cheap hardware simply fools the car into thinking that the key is nearby thuscommanding it to start the engine
The team of researchers have reverse engineered the radio signal from the key fob and are able to convert that signal to data andthen re-send that data at a much lower frequency which allows for the far greater signal range If all that goes above your headthen consider this ampndash they have built a range extender for the key fob of the keyless entry system of your car
There are two people required for this to work One must stay in the vicinity of the key fob with the device capturing the radio signalwhich then transmits the signal up to 1000 feet away to the receiver device and fools the caramprsquos unit to start the engine anddrive away However if the engine is switched off after being driven off a considerable distance then the thieves are out of luck asthe engine wonamprsquot start again
The researchers have reached out to all major car manufacturers regarding the issue and have suggested ways of fixing this issueAfter all it is sad to see someoneamprsquos dear car being driven away without any hint of it being stolenhttpwwwasianagecomtechnologyin-other-news010517your-keyless-car-can-be-hacked-for-as-low-as-20html
Top
Economy
Eight core industries output up 5 percent in March 2017 The Economic Times
New Delhi The combined Index of Eight Core Industries stands at 2029 in March 2017 which was 5 percent higher compared tothe index of March 2016 Its cumulative growth during April to March 2016-17 was 45 percent Ministry of Commerce amp Industrysaid in a statement
The individual indexes of the industries are
1 CoalCoal production increased by 10 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 36 percent over corresponding period of previous year
2 Crude OilCrude Oil production increased by 09 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 25 percent over the corresponding period of previous year
3 Natural GasThe Natural Gas production increased by 83 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 declined by 11 percent over the corresponding period of previous year
4 Refinery ProductsPetroleum Refinery production declined by 03 percent in March 2017 over March 2016 Its cumulative index during April to March2016-17 increased by 54 percent over the corresponding period of previous year
5 FertilizersFertilizer production declined by 08 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 18 percent over the corresponding period of previous year
6 SteelSteel production increased by 11 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 93 percent over the corresponding period of previous year
7 CementCement production declined by 68 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17declined by 13 percent over the corresponding period of previous year
8 ElectricityElectricity generation increased by 59 percent in March 2017 over March 2016 Its cumulative index during April to March 2016-17increased by 51 percent over the corresponding period of previous yearhttpautoeconomictimesindiatimescomnewsindustryeight-core-industries-output-up-5-percent-in-march-201758461306
Top
Closing
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
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