Tata Motors bags German design award

Tata Motors, India’s biggest auto maker by revenues but just picking up its car sales in the fiercely competitive car market, winning the prestigious German design award in gold category for its RaceMo two-seater sports coupé is a big boost.

Tata Motors Racemo two-seater sports coupé, the first innovation from its sub-brand, TAMO, its performance brand, bagged the German Design Award in the Gold category for International Excell-ence in ‘Exceptional Product Design’.

Triumph unveils all-new Street Triple RS

Triumph Motorcycles, the iconic British super sports motorcycle brand, has introduced the all-new Street Triple RS in Asia’s third biggest economy to expand its range and boost sales.

With a price band of Rs 10.55 lakh any showroom India, the Street Triple RS will compete against the Ducati Monster 821 and the Kawasaki Z900 in the naked middleweight segment in the growing premium motorcycle market in the country.

Mahindra Lifespace, HDFC Capital float JV for affordable homes

Mahindra Lifespaces Developers, the realty player from Mahindra Group and HDFC Capital on Wednesday announced a joint venture to develop affordable housing projects with an investment of Rs 500 crore over the next three years.

The Mahindra group’s realty firm will have 51 per cent stake in the JV Mahindra Happinest Developers, while HDFC Capital will have 49 per cent shareholding.

BMW unveils 330i Gran Turismo M Sport in India

BMW, India’s second biggest German luxury carmaker on Tuesday has expanded the 3-series GT range with a new variant of the BMW 330i Gran Turismo M Sport to cash in on the ongoing festival season in Asia’s third biggest economy.

With a price band of Rs 49.40 lakh, the BMW 330i Gran Turismo M Sport has no direct rival on road in India. The new car is locally produced at BMW factory at Chennai and can be ordered from BMW dealerships from today onwards.

Car buyers disappoint

Dhanteras car sales, usually bumper every year, were flat despite freebies and discounts galore ranging from Rs 20,000 to Rs 3 lakh to lure buyers.

These included traditional best sellers like Maruti Suzuki, India’s biggest carmaker by sales to Hyundai, Toyota Kirloskar and luxury carmakers such as Mercedes-Benz.

Industry honchos, auto experts and dealership managers across car brands said Dhanteras car sales, which generally are higher on such an auspicious day, could have been better.

Car sales skid this Diwali despite discounts, freebies

Car makers from Maruti Suzuki, Hyundai to luxury car firms such as Mercedes-Benz, Audi, BMW, Volvo and Jaguar Land Rover are offering Rs 20,000 to Rs 10 lakh freebies, discounts and benefits ahead of Diwali to lure buyers but sales are down 25 per cent.

“Despite of hefty freebies, free accessories, free insurance or registration, gold coin, low interest schemes, discounts on annual maintenance contracts and cash discounts, sales of car models across dealers have been down by 25-30 per cent against last Diwali season,” a prominent car dealer told Financial Chronicle.

Porsche unveils all new 911 GT3 in India

Porsche India, the official importer of German super sports luxury cars from Porsche AG, one of the luxury brands of Volkswagen AG, has launched its all new 911 GT3 sports car in India to expand the 911 line up and to cash in on the demand for sports car from the rich and famous during the on-going festive season that lasts till Christmas in December.

With a price tag of Rs 2.31 crore at Mumbai showroom, Porsche 911 GT3 rivals the recently launched Mercedes-AMG GT R in the Indian market, which is similarly priced, the Nissan GT-R, and the Audi R8.

GRSE inks MoU with Cooper Corp

Cooper Corporation, engine and auto components manufacturer, has entered into a strategic memorandum of understanding with Garden Reach Shipbuilders & Engineers (GRSE), a public sector undertaking, to jointly develop and manufacture small and medium diesel engines for marine applications.

Dhoot Transmission, US firm in JV

Dhoot Transmission, the auto components manufacturer, has forayed into the electro-mechanical and electronic switches for the two and three-wheeler industry through an equal JV with the US-based a Carling Technologies, with an initial investment of Rs 65 crore for a 1-million unit factory.

The Aurangabad-based firm, which is also in the final stage of acquiring a wiring harnessing firm in Europe this fiscal with ticket size of Rs 100 crore, is also eying to increase its overseas sales to 25 per cent from the present 18 per cent.