India’s Mahindra signs deal to buy Ssangyong
Indian carmaker Mahindra and Mahindra recently signed a deal to buy a controlling stake in South Korean auto maker Ssangyong, in a move likely to create a global player in sport utility vehicles. The 463-million-dollar deal will end financial uncertainty for the Korean company, which slipped into court-approved bankruptcy protection early last year on weak sales and rising losses. The companies expect the deal to be completed in March 2011, with Mahindra getting a 70 percent stake in the Ssangyong firm. Read More
Maruti gears up to make VW brands
NEW DELHI/MUMBAI: Suzuki Motor Corp chairman Osamu Suzuki is visiting India this week as joint venture partner Maruti gears up to develop components and cars with Europe’s largest carmaker Volkswagen Group AG (VW). Volkswagen Group bought 20% stake in Suzuki last year. “There is much on Osamu Suzuki’s agenda. He will assess expansion plans and evaluate Maruti’s capability to indigenously develop cars meeting global standards on safety and quality. An arrangement on the lines of Nissan would eventually be on track... Read More
AMG eyeing Ducati takeover, AMG-branded Motorbikes possible
Last week we first heard that AMG and Italian motorbike manufacturer Ducati were forming a partnership, initially surrounding the cooperation over common marketing activities, but with any such deal there is always the potential for the relationship to develop further. While such a possibility may be several years away - at the earliest - there’s no doubt that executives are examining it. Speaking with Autocar at last week’s 2010 Los Angeles Auto Show, AMG and Ducati revealed that they were “currently examining further activities... Read More
Ford plans new plant in Gujarat
NEW DELHI: With the Indian car market booming, Ford is planning to set up a second plant and has approached the Gujarat government for land. According to sources, Ford which has announced eight new models for India by 2015, has been suggested a site near Sanand, where Tata Motors also has its factory for Nano, by Gujarat state government officials. Read More
Mazda to recall cars over fuel pump defect
TOKYO (AFP) - Japanese automaker Mazda Motor said it would recall more than 72,000 cars at home and overseas due to a fuel pump defect that may cause their engines to stall. In Japan, Mazda will recall a total of 28,238 units of its Premacy and Biante models produced between June last year and April this year, a company spokesman said. It will exchange for free fuel pump components that may corrode due to moisture being accidentally trapped inside the pump during air tightness inspections in the factory. Read More
Toyota suffers second straight output fall in October
Japanese auto giant Toyota Motor said Friday its worldwide production fell for the second straight month in October as sales at home slowed, while its rivals reported an increase in output. Global production, excluding output by its Daihatsu and Hino subsidiaries, dropped 13.6 percent from a year earlier to 613,169 units, the world’s largest carmaker said. Domestic output fell 22.4 percent to 237,089 last month on the expiration of government incentives for buyers as sales in Japan plunged 24.7 percent to 103,672 in the month, Toyota said. Read More
Aston Martin Unveils 2011 Vantage GT4 Race Car
Aston Martin has unleashed the latest iteration of its V8 Vantage GT4 race car, which comes into the 2011 race year with several important updates. The new V-8 engined racing car takes design inspiration from Aston Martin’s V12 Vantage road car, giving it enhanced aerodynamics and increased downforce. It also has a remapped 4.7-liter engine offering increased levels of power and torque. Read More
Toyota unveils Ractis
Japan’s automaker Toyota Motor unveils the new compact five-door wagon “Ractis’, equipped with a 1.3 or 1.5-litre at the company’s showroom in Tokyo recently (AFP Photo)
