Search Result for : Ford

The Dollar Business Bureau With focus of the industry shifting towards domestic market and lasting impact of GST refunds on exporters, the passenger vehicle exports from India dropped by 1.51% in 2017-18, witnessing a dip for the first time in the past seven years. In 2017-18 fiscal, 7.47 lakh units of passenger vehicles were exported as against 7.58 lakh units in the previous fiscal, as per the Society of Indian Automobile Manufacturers (SIAM). “This is the first decline in exports of passenger vehicles since 2010-11 when it declined 0.41%,” said Sugato Sen, Deputy Director General, SIAM. Citing the the reasons behind the decline in passenger vehicles export, Sen said that some key exporters have shifted their focus on the domestic market. In addition, the exporters ...

The Dollar Business Bureau  Mahindra & Mahindra, jointly with its South Korean subsidiary SsangYong Motor, has announced its plans to develop a production platform for an electric Sport Utility Vehicle (SUV) by 2020.  Lack of public charging infrastructure in both India and South Korea is one of the many bottlenecks in the mass-adoption of electric cars, which is inevitably going to be the future of automotive companies. The move towards clean-fuel vehicles is slow but palpable across the global auto industry. Government subsidies for clean-fuel technologies has also incentivised growth in the electric vehicle segment.  In Mumbai, CEO of SsangYong, Choi Johng-sik, announced that it was diligently working with it's Indian parent company to roll out a new generation of electric cars.  In India, e2o and eVerito (sedan) are two of the electric vehicles manufactured by Mahindra & Mahindra. ...

The Dollar Business Bureau  German automobile major Volkswagen on Wednesday said that the production has commenced on its forthcoming premium SUV Tiguan at the Skoda plant in Aurangabad (Maharashtra).  Slated to be launched in India later this year, the Tiguan model will be available in a 2-litre diesel engine coupled with an automatic 7-speed gearbox.  “The Tiguan will be our premium SUV offering for India and will cater to the unceasing demand in the segment. Our customers will now have an extended portfolio, ranging from hatchback to executive sedan, to meet their requirements at our showrooms,” said Michael Mayer, Director, Volkswagen Passenger Cars India, said in a statement.  The premium SUV and the sedan Passat are the latest products of Volkswagen lined up to ...

The Dollar Business BureauAutomobile major Volkswagen is planning to strengthen its SUV segment with the launch of its premium model Tiguan in India. The world's largest car manufacturer looks to scale up its presence in the Indian market. It is reintroducing its premium sedan Passat this year, in addition to its newly unveiled performance-oriented hatchback GTI. The company in one of its recent announcements said it is eyeing at positioning itself as an "accessible premium car brand" in the world’s fourth-largest automobile market. "Tiguan as our first premium SUV, comes into an area where we see more and more people investing in such cars. That will be the first step for us into that domain of SUVs," said Michael Mayer, Volkswagen Group ...

The Dollar Business Bureau US multinational auto maker, Ford said that it will invest about $1 billion in the next five years in an artificial intelligence (AI) start-up with the purpose of creating an autonomous vehicle by 2021. The auto giant will take a majority share in the Argo AI, an artificial intelligence firm headquartered in Pittsburgh, which was founded in 2016 by former employees of Google and Uber. The venture will hire leading engineers and ‘roboticists’ for developing a system of ‘virtual driver’, described by officials of Ford as the ‘brain’ of autonomous vehicle. Raj Nair, Executive Vice President of Ford, said that the setup is aimed to give the company a head start on its counterparts in the competition for commercialising the autonomous vehicles. “It will have the "speed and ...

The Dollar Business Bureau Britain’s June 2016 referendum is expected to drag down the US carmaker Ford’s 2017 earnings by as much as $600 million, a senior Ford executive told Reuters on Friday. During the first quarter after the referendum, which led to a considerable slump in the sterling, currency hedges had shielded Ford from revenue slump. But in the first quarter of 2017, the global car manufacturer seems to be facing the brunt of a weaker pound. "When Brexit happened we were fully hedged for the first quarter with the stronger pre-Brexit exchange rate. As we enter the rest of the year, especially the second half, we now face the full effects of the weaker sterling," Jim Farley, Ford’s Europe boss said ...

The Dollar Business Bureau  Trump's tweet has yet again sent shock waves through the auto industry with its threat to penalise Toyota with 'big border tax' if it opens a new manufacturing facility in Mexico. "Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build in U.S. or pay big border tax," Trump tweeted on 5 Jan 2017. Trying to deliver on his promise to bring back manufacturing jobs to America, Trump has often used his twitter account to target multiple automobile and prevent them from moving production facilities out of the US. His attempts at meddling with the economy (even before assuming the title of POTUS) have also been rewarded earlier in Ford's ...

The Dollar Business Bureau Ford recalls 1.9 million vehicles in North America For replacing the faulty passenger-side front air bags manufactured by Takata Corp, the Japanese supplier, Ford Motor company has decided to recall 1.9 million vehicles in North America. This will be a part of a nationwide recall of the continuing Takata air recall and will be one of the largest US recall that history has ever seen. The defect with these bags is that they can inflate with too much force and discharge shrapnel into the vehicles. This defect has claimed the life of 11 people worldwide. The vehicles affected due to this recall are 2005-2011 Ford Mustang, 2007-2010 Forde Edge, 2006-2011 Ford Fusion, 2007-2011 Ford Ranger, 2006-2011 Lincoln MKZ and 2007-2010 Lincoln ...