Home and car loan rates of SBI likely to get cheaper during the festive season
The largest public-sector lender of India, State Bank of India (SBI), has recently announced many offers on car and home loans to boost the upcoming festive mood. Cheaper interest rates are one of the offers that the lender is giving away to its borrowers. Borrowers are also likely to get additional benefits such as waiver in processing fees, loans without escalation in interest rates, pre-approved loans, etc., on SBI home and car loans. Car loans can be availed with zero processing fee and at interest rates starting from 8.70% p.a. There will be no escalation in the interest rate which means that the customer does not have to experience any fluctuation in the interest rate. Customers who apply for a car loan through digital platforms of SBI (website, YONO app) will get a concession of 25 bps on the interest rate.
Maruti Suzuki Opens Bookings for the 2019 WagonR
Maruti Suzuki has opened bookings for the new WagonR week ahead of its launch. The facelift version of the popular hatchback will be launched on 23 January 2019. Customers can book the WagonR at any Maruti Suzuki dealership by making a payment of Rs.11,000. Additionally, customers can also make a booking online.
The new WagonR will be available with a 1.2-litre petrol engine and will come fitted with a number of safety features including airbags and rear parking sensors. Other safety features include an antilock braking system, electronic brakeforce distribution, a speed alert system and front seatbelt reminder. Additionally, the car will also come with a touchscreen infotainment system.
The 2019 WagonR is expected to be priced between Rs.4.45 lakh to Rs.5 lakh and will compete with the Hyundai Santro, Renault Kwid and the Datsun GO.
Hyundai India Records Highest Profit and Turnover During FY 2018
The biggest car manufacturing company of South Korea with a record of producing a new car every 33 seconds – Hyundai Motors – has recorded its highest turnover and profit for all times in India during FY 2017-18. This has helped the vehicle manufacturer to cushion against the pressures from pivotal markets such as Europe, US, and China. During the financial year 2018-19, the total turnover of Hyundai Motor India witnessed a growth of 5% to stand at $5.8 billion, while the profit after tax of the company rose by 8% to stand at $300 million. On the other hand, the sales of the India segment of the company increased by 5% to 5.4 lakh units at the same time. However, a higher capacity utilisation and a rich model mix helped the company achieve a healthy profit growth during the fiscal year of 2017-18.
The market share of Hyundai Motors in India has ranged between 16% and 17%. Under the management of the Chief Executive Officer at Hyundai Motors, Y K Koo, the contribution of the company increased to stand at 16% from the previous 13%. While the factories of the company are currently operating at their 100% capacities, the South Korean car maker has been planning to shift the production from exports to the domestic market. Furthermore, with the increase in the sales of cars such as Verna, Elite i20, and Creta, the domestic revenue of Hyundai Motor witnessed a 9.5% growth at $4.2 billion.
Hyundai going to introduce the walking car Elevate to CES
During the Consumer Electronics Show (CES) which is going to be held in Las Vegas next week Hyundai is going to show its walking prototype called 'Elevate'. This is one of the many outrageous ideas that are going to be introduced in the upcoming event. This advanced vehicle is said to have retractable legs which will enable it to literally stand up and dodge tough terrains and other obstacles on its way. Though earlier, Jeep Wrangler has launched cars with advanced technologies to travel through strenuous regions, this walking car concept from the house of Hyundai is an outrageous one which is never heard before. The company is hopeful that this new concept will be a big hit in the event as well as among the car lovers.
Hyundai Palisade SUV revealed at the LA Auto Show
Hyundai’s new flagship 3-row SUV, the Hyundai Palisade, has made its global debut recently at the Los Angeles Auto Show. The flagship 2020 Hyundai Palisade comes with an all-new chassis. The company has claimed that the second and third rows are quite spacious and has a big cargo space as well. The Palisade will be officially launched next year and will be produced in Ulsan, Korea. The SUV comes with LED DRLs, LED headlamps, and LED turn indicators. It also gets turn indicator clad ORVMs. The SUV is powered by an Atkinson-cycle 3.8-litre V6 CVVT, direct-injected engine that delivers around 291 horsepower and produces about 394 Nm of torque. It comes with a host of safety features such as Forward Collision-Avoidance Assist with Pedestrian Detection, Lane Following Assist, Blind Spot Collision Avoidance Assist, Rear Cross Traffic Collision Avoidance Assist, High Beam Assist, Safe Exit Assist, Driver Attention Warning, and Smart Cruis Control with Stop and Go. The Palisade also features a first in industry roof vent diffuser design which can provide a focused, fully diffused, or partially diffused air stream to the rear passengers. The SUV also receives the latest navigation system from Hyundai with Android Auto and Apple CarPlay. It also offers a Qi wireless charging pad to eliminate the need for a charging cord.
Mahindra Alturas receives 5 star safety rating in crash test just like the Toyota Fortuner SUV
After a number of years of dominance in the SUV segment, Mahindra has been expanding its market to other segments. The Alturas is an SUV from Mahindra launched with the help of Ssangyong. After the launch, the Mahindra Alturas G4 2WD version is now available across multiple dealerships at a retail price of Rs.26.95 lakh (ex-showroom). The price of the top-end model of the SUV is Rs.29.95 lakh (ex-showroom). Last year, Korean transport ministry gave a top crash test rating for the Ssangyong Motors G4 Rexton. The Rexton was given a five star rating for collision safety in the Korean New Car Assessment Program (K-NCAP). The Toyota Fortuner also came away with a 5 star safety rating. The Mahindra Alturas will be equipped with 9 airbags, Brake Assist System, Electronic Stability Program with Active Rollover Protection, Hill Start Assist, Emergency Stop Signal, ABS + EBD, and Traction Control System. The vehicle has been built with high quality steel quad frame structure, front crumple zones, Hill Descent Control (HDC), side impact beams, and ISOFIX mounts for the child seat comes as a standard feature. In the market outside India, the Rexton G4 comes with 9 airbags and close to 81.7% of the car consists of high quality steel. The Mahindra Alturas imports all the parts from South Korea but the car is assembled locally. The Rexton Alturas is sold as a CBU is everywhere in the world but will be sold as a CKD in India. People opting for the Alturas G4 will deal with relationship managers at the store and will be provided access to premium loyalty programme Purple Club+.
Car Makers Seeking to Tap the Growing Demand for Automated Cars in India
The number of car consumers who prefer automatic transmission over manual transmission is increasing in India. Major automobile firms, such as Tata Motors, Hyundai, and Maruti Suzuki are looking forward to an increase in sales of automated cars. Maruti Suzuki India enjoyed a positive response to its Auto Gear Shift (AGS) facility by crossing Rs.3 lakh retail sales within 5 years from the date of launch. It is targeting to sell more than 2 lakh AGS cars during the current financial year. Currently, Maruti Suzuki India is offering AGS in seven models that include the WagonR, Celerio, Alto K10, Dzire, and IGNIS.
Hyundai Motor India, which is the second biggest vehicle manufacturer in India, saw an increase in automated vehicles from 4% of total sales in 2015 to 9.8% of total sales by June 2018. It sold 42,186 automated vehicles last year which accounts for 8% of the total sales. Tata Motors believes that every 2nd car sold in India, 5 years down the line would be an automated car. The senior marketing director of Maruti Suzuki India stated that the ease of driving and comfort offered by automated cars without compromising on the fuel efficiency are the reasons for wide acceptance among consumers in India.
Nissan Kicks spotted in India
Nissan Kicks SUV has been in the spotlight since the time it was launched in Brazil. The car is expected to be introduced in India in January 2019. Ahead of its launch, Kicks has been spotted in India recently.
Once the car is launched in the Indian automobile market, it is expected to compete with Renault Captur and Hyundai Creta. The vehicle will be priced in the range of Rs.11 lakh to Rs.16 lakh, ex-showroom. It is understood that the Indian model of the car will have different specifications from the international model.
The car will have attractive styling and will be more spacious on the inside. Nissan Kicks is expected to improve the sales figures of the auto manufacturer in the country.
The car will be made available in diesel and petrol versions with both automatic and manual transmission systems.
2018 Audi Q5 priced at Rs.53.25 lakh recently launched in India
Porsche, the sports car brand owned by the Volkswagen Group has launched its most expensive car to ever grace the Indian roads. The 911 GT2 RS comes with a price of Rs.3.83 crore (ex-showroom Mumbai) and will boast a 340 kilometers per hour top speed. The car can accelerate from 0 to 100 km/hr in just 2.8 seconds and has already sold out for this year. The GT2-RS delivers 750 Nm of torque and 700 bhp of power and is powered by a 3.8 litre bi-turbo engine. The car weighs only 1,470 kg and has completed the famed Nurburging race track in just 6 minutes and 47.3 seconds. While the company gets more than 65 % of its sales through SUVs, they strongly believe that there is an increasing demand for sports cars in the country. Porsche believes that with vehicles like the new 911 GT2 RS, the company is very well equipped to meet this increasing demand.
3 lakh sales milestone crossed by Maruti Suzuki Vitara Brezza
Maruti Suzuki Vitara Brezza has acquired the tag of being the fastest selling car in the SUV segment due to its incredible sales mark of more than 3 lakh. Brezza has sold 3 lakh units in India in just 28 months from which 1 lakh unit was sold in the month of March 2017 within 1 year of its release. Earlier, in March 2016, Maruti made its entry in the compact crossover segment in India with the launch of the new Maruti Suzuki Vitara Brezza. Ever since this car has become a huge success for the company and recently it has set new sales record by selling more than 3 lakh of units from its launch date. As this SUV has acquired this milestone within just 28 months from its launch, it has been tagged as the fastest vehicle to do this in the country. In average, 10,714 units of the Vitara Brezza was sold in India every month since its launch. Moreover, it was always topping the list of the 10 top-selling cars in India ever since its market release. In fact, the top-spec (Z/Z+) variants of this car account for 56% of the total sales of the company.