- Petrol prices in India have gone up by around Rs 7.50 i.e. above 10 per cent, inclusive of state taxes, with effect from today. Auto stocks of companies such as Maruti and Mahindra have suffered thanks to this large price hike.
- The Indian Rupee has plummeted even further to touch 56 rupees to a dollar. A panel of ministers will meet tomorrow to decide on a restructuring of pricing for diesel, kerosene and LPG, whose subsidies are driving the price of petrol ever higher.
- The proposed annual fitness checks we had mentioned some time ago for private vehicles may be in place by the end of the year. Not only this, the vehicle's insurance renewal will be dependent on whether the vehicle passes the fitness test - a noble sentiment, but it remains to be seen the implementation of the rule.
- Audi has launched the Audi Car-life Advance program for customers buying the A4, A6 and Q5. The program is based on EMIs that include insurance costs, routine maintenance and extended warranty payments merged into one so that the customer does not have to shell out money over and over again.
- Mahindra and Mahindra are trying their best to enter the growing Chinese markets astride their Korean acquisition Ssangyong. Under its previous owners, Ssangyong brand was damaged in China and M&M are facing difficulty in restructuring the brand in the Chinese market.
- Mahindra is back in the running for the acquisition of Saab - Youngman, which was the frontrunner so far, has resigned from the race for unspecified reasons.
- Ford India, as a part of its CSR, had undertaken ‘Operation Goodwill’ to improve the education infrastructure in the areas surrounding its Chennai Factory. Ford India’s parent company, Ford USA has given an additional $250,000 to Ford India to go ahead with the welfare activities.
- Engineering students from the Lovely Professional Univeristy in Punjab have built a golf cart as an engineering project that can be controlled by mobile phone through internet connectivity. This means that with the help of cameras and a smartphone, it can be driven by someone anywhere in the world - theoretically.
- Mazda and Fiat have signed a memorandum to develop a small sports car based on the Miata MX 5. Fiat group’s Alfa Romeo will be working with Mazda to create the new roadster.
- Renault has confirmed the unveiling of the Alpine concept at the Monaco GP this weekend. Renault has confirmed that the 400 bhp car can be homologated in the future, but is an essentially track spec car as of now. It is also mulling a new high-end brand in much the same way that Honda has Acura or Toyota, Lexus - but no concrete plans exist right now.
- BMW has tripled its Chinese production output with its second Chinese factory. When complete, the total Chinese production will be 200,000 units annually in 2014 - but demand is expected to be double that in the future.
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