Audi India is gearing up to launch the second-generation Audi RS7 Sportback in the country. The carmaker has released a teaser image on its official website, confirming the arrival of the performance car. Additionally, the company also released a teaser video of the car via Twitter, which confirms that it would be launched soon in India. To be based on the second-generation Audi A7, the upcoming car will be built on the Volkswagen MLB Evo platform. The carmaker is expected to launch the all-new RS7 Sportback in India by next month.
Hyundai, the South Korean automaker has officially introduced Venue Flux special edition in its home market. The special edition of the subcompact SUV is made exclusively for the South Korean market, which is priced at KRW 2,15,00,000 (approximately Rs. 13.56 lakh). The Hyundai Venue Flux edition comes in dual-tone black and neon green shade, giving a sportier look and funky character to the SUV than the regular version. Apart from the cosmetic treatment, the Hyundai Venue Flux edition doesn't see any mechanical or dimensional changes.
The new generation Lexus IS sedan was previously scheduled to make its world premiere on June 9, 2020, which was postponed to a later date due to the coronavirus outbreak. After delaying the global premiere, the carmaker has announced a new date for the unveiling of the fourth-generation Lexus IS sedan. The company will be revealing the highly-awaited IS sedan on June 15, 2020, through a digital event which will be streamed online on Facebook. The event is scheduled to take place at 7 pm EDT, which is 4.30 am IST.
RR Global, the largest firm in the electrical industry officially announced its entry into the Indian two-wheeler electric vehicle (EV) segment. The company will be launching two-wheeler EV products under its BGAUSS brand, which will be a range of premium electric vehicles designed for urban and emerging areas. The company will be introducing EV products in the Indian market intending to elevate lifestyles and conserve the environment. The EV products under the BGAUSS brand will offer fluid design, low maintenance, great power, quick charging, IoT, comfort and several other features.
Ajay Jadeja, a former Indian cricketer became the first celebrity to purchase the all-new Kia Carnival MPV in the country. Kia Carnival premium MPV is the flagship product of the South Korean car manufacturer, which was launched in India at the 2020 Auto Expo. The former Indian right-handed batsmen received the delivery of his latest possession at his residence in Udaipur, Rajasthan amid lockdown, as seen in the image. The retired cricketer took the home delivery of the white coloured top-end Limousine variant of the Kia Carnival, which costs Rs. 33.95 lakh (Ex-showroom, Delhi).
The petrol and diesel prices continue to rise even on the eight consecutive days across all metro cities in the country. With the new retail prices coming into effect this morning, the auto fuels retail at the pumps at Rs. 75.78 per litre and Rs. 74.03 per litre respectively in the capital city. On Sunday, the petrol retailed at pumps in Delhi at Rs. 75.16, which has been hiked by 62 paise. Diesel previously cost Rs. 73.39 per litre, which has been increased by 64 paise per litre in Delhi. The consumers in Mumbai will have to pay Rs. 82.70 per litre for petrol and Rs. 72.64 per litre for diesel.
After launching Bonneville T100 Black & T120 Black bikes, Triumph Motorcycles India is all geared up for another launch in the country. The iconic British two-wheeler brand will be launching the new Tiger 900 middleweight adventure motorcycle in India on June 19, 2020. The company was expected to launch the new Tiger 900 adventure motorcycle in May, however, the same got delayed to the COVID-19 pandemic. After much delay, the company has finally revealed the launch date of the motorcycle, which will be held digitally. The company is already taking pre-bookings for the adventure motorcycle with a token payment of Rs. 50,000.
Eicher Motors on Friday officially announced the financial results for the fourth quarter as well as the year ended March 31, 2020. The company recorded a total revenue from operations of Rs. 2,208 crores, witnessing a fall of 12 per cent as compared to Rs. 2,500 crores in the corresponding quarter of FY 2018-19. The EBITDA stood at Rs. 432 crores with a decrease of 37 per cent. It stood at Rs. 685 crores in the same quarter of the previous financial year. Additionally, the companys Profit After Tax massively dipped to Rs. 304 crores in comparison to Rs. 545 crores during the same period last year.
Petrol and diesel prices yet again have been increased and it is the seventh day in a row to witness the hike. With the new prices coming into effect, the two petroleum products became dearer by 59 paise and 58 paise per litre for petrol and diesel respectively. The fuel prices have risen throughout the week witnessing a hike of Rs. 3.90 per litre for petrol and Rs. 4 per litre for diesel, since Sunday. The auto fuel prices have risen by around 60 paise per day, except Tuesday when the hike was marginally lower than 40 paisa per litre.
Tesla, an American electric vehicle manufacturer has officially started the international deliveries for the Model Y deliveries in Canada, which is believed to be the first major market expansion for the new electric Crossover. The Tesla Owners Club of British Columbia revealed that the first delivery of the Tesla Model Y was done yesterday. Moreover, the Canadian customers receiving the delivery of the Blue Metallic Model Y was shared on an Instagram under British Columbia Tesla Owners Instagram page. The company started delivering the electric crossover in the US market earlier this year in March. And now, the company has started deliveries in Canada.
The Insurance Regulatory and Development Authority of India (IRDAI) on Monday officially released a circular mentioning the withdrawal of long-term motor insurance package plans including 3rd party insurance as well as own damage. This will come into effect from August 1, 2020. The insurance regulator decided to withdraw the long-term insurance package policy after noticing several issues and concerns related to the performance of these policies. Some of the reasons that compelled the body to take this step are challenges in actuarial pricing for long term own damage policies, distribution of polices is difficult, an expensive proposition, and a possibility of owners selling their vehicles due to financial reasons or default in loans.
BMW, the Bavarian car manufacturer will be launching the new generation X6 in the country on June 11, 2020. The car manufacturer has teased the 2020 BMW X6 ahead of its India debut on its official social media accounts. The third-generation BMW X6 will be offered in two trim options - xLine and M Sport. The carmaker initiated the bookings for the car earlier this year in January. Once launched, the next-gen BMW X6 will be pitted against the likes of Porsche Cayenne Coupe, Mercedes Benz GLE Coupe and Audi Q8. It will be launched in India as a completely built unit (CBU).
Fuel demand massively dropped in April after Prime Minister Narendra Modi announced complete lockdown across the country to contain the spread the coronavirus pandemic. Prime Minister urged everyone to break the chain of the COVID-19 by staying at home, which resulted in a temporary closure of factories, offices, air travel suspension and more. With nationwide lockdown coming into effect, most of the vehicles were off roads that led to decreased demand for fuel. Within weeks of lockdown, the oil firms saw record low fuel sales across the country. Indian Oil Corp (IOC), the country's largest oil firm told PTI that the demand for the fuel might return with the resumption of economic activities.
The Indian auto component sector is likely to see massive job cuts if the sector continues to face business difficulties because of the reduced demand owing to coronavirus pandemic. According to PTI, the Automotive Component Manufacturers Association of India (ACMA) stated that the sector could witness huge job losses due to lack of demand caused by the pandemic. The industry body also mentioned that the auto component manufacturers would be forced to cut down the workforce in a bid to survive with muted demands and excess capacities in place. Moreover, SIAM has already predicted an annual downturn of 35 to 40 per cent because of the COVID-19 crisis.
The automobile sector is one of the most affected industries due to the Coronavirus outbreak. The sector was already witnessing a slow demand from the market which further deteriorated due to the COVID-19. Nevertheless, the automobile sector is gradually moving towards the new normal wherein several manufacturers have resumed operations at their respective plants across the country. However, the two-wheeler sales are expected to remain in the slow lane throughout this fiscal, according to HMSI Director Sales and Marketing Yadvinder Singh Guleria. As per the report from PTI, the HMSI senior official told said the coronavirus lockdown having already taken its toll on dispatches in the first quarter, and it would continue to affect the two-wheeler sales this fiscal.
Energy Efficiency Services Limited (EESL), India's energy service company is eyeing to ramp up the installation of electric vehicle (EV) stations in India during the fiscal period of 2020-21. According to the report from IANS, EESL plans to set-up about 2,000 EV charging stations in the country during the fiscal. As a part of a joint venture of PSUs under the Ministry of Power, the company has undertaken the project for boosting the e-mobility ecosystem in the country. Presently, EESL has installed over 300 EV charging stations in India. However, some of them have not come online for supplying the facilities as they were disrupted by the COVID-19 crisis.
Tesla CEO Elon Musk reportedly visited likely the UK this week scouting for a possible site for building a huge electric car factory. According to the report from IANS, the Tesla CEO used his private jet which landed at London's Luton Airport earlier this week. The media report cites that the company is focusing on global expansion plans. And, one of the possible sites is likely to be the 650-acre Gravity industrial park in Bridgwater, Somerset. Musks private jet had landed at London Luton Airport on Wednesday and flew out the very next day as rule to quarantine foreign travellers that come into effect from June 8 in Britain.
Renault, the French car manufacturer is currently working on all-new subcompact SUV for the Indian market. The upcoming subcompact SUV is internally codenamed as HBC, which has been spotted doing rounds on the Indian roads amidst lockdown. The company was expected to unveil the product at this year's Auto Expo, which didn't happen eventually. After failed attempts with Captur and Pulse, the carmaker is now eyeing for volume space with an all-new product. It was also expected that the subcompact SUV would be launched in India by mid-2020. As of now, there is no official timeline confirmed by the company yet.
In a bid to attract customers post lockdown phase, Hyundai India has come up with attractive discounts and lucrative offers on its selected models. As the automotive industry is gradually coping from the crisis of the COVID-19 pandemic, the South Korean automaker is eyeing for good sales with the help of newly announced discount schemes. The carmaker intents to stir up the sales that were massively impacted due to the nation-wide lockdown. Hyundai India is offering exciting deals and special benefits ranging up to Rs. 1 lakh on the selected models for June 2020.
As the nation-wide lockdown has been eased bringing lesser restrictions, the automakers have begun testing their upcoming cars on the Indian roads. The prototype model of the new generation Mahindra XUV500 also has been spotted doing rounds near Chennai, which is covered heavily in camouflage. Captured on camera, the testing vehicle of the Mahindra XUV500 shows a matured appeal in comparison to the previous prototypes seen testing in the country earlier. This is not the first time when the next-gen XUV500 has been spied testing in India.
