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Honda Cars partners Bank of Maharashtra for vehicle financing solutions

Honda Cars India Ltd (HCIL) on Tuesday said it has tied up with

Bank of Maharashtra

to offer vehicle financing schemes for potential car buyers.

The partnership will help customers to avail car finance schemes with a low-interest rate and hassle-free quick sanction of loans on purchase of new Amaze, Jazz, WR-V and City, the automaker said in a statement.

“This tie-up with the Bank of Maharashtra will strengthen our efforts to offer affordable and accessible personal mobility solutions to a perse set of valued customers,” Honda Cars India Senior Vice President & Director (Marketing & Sales) Rajesh Goel said.

With a wide network of Bank of Maharashtra and Honda’s advanced technology product range, this partnership will mutually benefit each other and result in deeper penetration of the market, he added.

With a focus on semi-urban and rural regions besides urban markets, HCIL has been making efforts to make buying this festive season more attractive and rewarding for its customers.

HCIL has recently partnered with multiple financiers such as PSU banks, retail financiers, and NBFCs to enhance the car buying experience for its customers.

What your car costs the city

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Volkswagen Group to merge all three passenger car entities in India

German auto major Volkswagen Wednesday said it intends to merge all passenger car entities in India, which will now be led by group firm Skoda Auto as part of its new strategy for the country. The boards of the three Indian subsidiaries — Volkswagen India Private Ltd (VWIPL), Volkswagen Group Sales India Pvt Ltd and Skoda Auto India Pvt Ltd (SAIPL) — have approved the proposal for their merger, the Volkswagen (VW) Group said in a statement.

The proposed merger is now subject to necessary regulatory and statutory approvals.

It, however, said VW Group brands — Volkswagen, ŠKODA, Audi, Porsche and Lamborghini — will maintain their inpidual identities, dealer network and customer experience initiatives.

The brands will work under the leadership of Gurpratap Boparai, who is currently the managing director of VWIPL and SAIPL, with a common strategy for the Indian market.

“India is an important and an attractive growth market for the Volkswagen Group. With the proposed merger, we intend to combine the technical and managerial expertise of the three companies to unlock the Volkswagen Group’s true potential in India’s competitive automotive market,” Boparai said.

The integration will lead to coordinated and faster decision making and increased efficiency using existing synergies, he added.

Last year in July, the VW Group had announced investments of Rs 8,000 crore (EUR 1 billion) for its ‘India 2.0’ to be led by Skoda Auto to strengthen its presence in the country.

Under the initiative, the German automaker had stated it would introduce by 2020 its first product based on localised sub-compact MQB-A0-IN platform that has been tailored to the needs of customers in the Indian subcontinent.

The group had also set a target of capturing 5 per cent of the Indian passenger vehicles market by 2025, up from around 2 per cent currently.

In January this year, the group opened its technology center in Pune, laying the foundation for the development of products based on the MQB-A0-IN platform.

In the second phase of the project, VW Group will be examining the possibility of exporting vehicles built in India, the statement said.

Hyundai teases new Elantra, will launch it on March 17

Hyundai has teased the pictures of all new Elantra. The 7th generation Elantra will be launching in USA on March 17 but is expected land in India next year.

The all-new Elantra showcases a ‘Parametric Dynamics’ design theme that accentuates its progressive and exotic character. “Cutting edge engineering solutions and design innovations actualize the polyhedral appearance. Having three lines meet at one point is the main element of ‘Parametric Dynamics’. This formation is a daring challenge, which has been avoided in car design, marking Elantra’s “disrupter-spirit”,”Hyundai said in the teaser.

Agencies

picture credit: Hyundai

The sedan will have a ‘Immersive Cocoon” designed interior. It “creates a driver-focused user experience. Low and wide structures go from the door and connect all the way to the center console, while the large interface consisting of two harmoniously integrated displays elevates the racing-inspired feel of the car”, the South Korean car maker explained.

Agencies

@Hyundai

Meanwhile, some Indian websites have claimed that the company may bring a diesel version of car using Creta’s 1.5-liter engine.

Last year, the company had launched a revamped petrol model of Elantra.

MG Motor drives in updated ZS EV with price starting at Rs 20.99 lakh

NEW DELHI: MG Motor India on Monday said it has launched an updated version of ZS EV in the country with price starting at Rs 20.99 lakh (ex-showroom, Delhi).

The 2021 version of the electric vehicle now comes with a 44.5 kWh battery and has a certified range of 419 km. It also comes with new tyres, battery-pack and enhanced ground clearance.

The company said the model would now be available for bookings in 31 cities. The car was initially introduced in five cities during its launch in January 2020.

“We are proud to introduce the evolution of the ZS EV in a short span of one year, reiterating our commitment to the EV space,” MG Motor India President & Managing Director Rajeev Chaba said while launching the product in a virtual event.

To extend customers a superior ownership experience, the company is building a robust charging infrastructure in the country along with ecosystem partners, he added.

The ZS EV comes with 143 PS power and 350 Nm torque and can reach from 0 to 100 kmph in 8.5 seconds.

It is available in two variants – Excite & Exclusive- and come with features like panoramic sunroof, 17-inch alloy wheels and a PM 2.5 air filter, among others.

The automaker extends its customers a five-way charging ecosystem including free-of-cost AC fast-charger at residences/ offices, portable in-car charging cable, DC superfast charging stations at dealerships, 24×7 charge-on-the-go facility in five cities and charging stations in satellite cities and tourist hubs.

Volvo Cars posts 6% December sales rise as recovery continues

STOCKHOLM: Car maker Volvo Cars said on Thursday its sales grew 6% in December, marking a continued sharp recovery from the lows earlier this year in the wake of the pandemic .

The company, owned by China’s Geely Holding, said sales in the second half were the strongest in its history, while full-year sales dropped 6.2% to 661,713 cars.

“We had a great second half of the year after a tough start, gaining market share in all our main sales regions,” Volvo’s head of Global Commercial Operations, Lex Kerssemakers, said in a statement.

“We aim to build on this positive trend in 2021 as we continue to roll out new electrified Volvos and expand our online business.”

Volvo’s December sales in Europe dropped 1.8%, while China grew 9.9% and sales in the US jumped 15.2%.

European car sales suffer worst plunge ever in pandemic

MILAN: European car sales plunged by nearly a quarter last year as the pandemic provoked the worst crisis ever to hit the capital-intensive industry.

New car registrations sank by 23.7%, or 3 million vehicles, to 9.9 million units, according to new figures released Tuesday by the European Automobile Manufacturers Association. It said lockdowns and other restrictions “had an unprecedented impact on car sales across Europe.”

All major markets recorded double-digit declines, down 32.3% in Spain, 28% in Italy and 25% in France. Germany suffered a more contained 19% drop.

December sales were just 3.3% lower than the previous year, but performance varied drastically between markets. Italy and Spain both had double-digit dips, Germany gained 10% while Spain was flat.

Germany’s Volkswagen shed 3% in market share, while gains were posted by PSA Peugeot and Fiat Chrysler — which on Monday officially launched as a new merged entity — as well as Toyota.