Jaguar GT racing car makes European debut

The new Jaguar RSR racing car makes its European debut this week at the 2010 Autosport International at the NEC in Birmingham, UK. It is the first and only chance for the public to see the stunning new XKR GT in the metal before it heads back to the US to compete in the entire 2010 American Le Mans Series (ALMS) in North America.

GT racing legend Paul Gentilozzi is taking a break from a gruelling development programme to feature the XKR in the largest dedicated trade motorsport exhibition in Europe. The racecar will be on display at the Jaguar stand alongside a production model XKR, XFR, and the fastest Jaguar ever – the Bonneville XFR prototype, which Paul drove to 225.675 mph on the Bonneville Salt Flats in 2008.

Jaguar asked the Michigan-based RSR team to help create a race car to compete in GT2 racing in 2010. The Jaguar engineering and design teams, based in Coventry, have jointly developed the car from a standard road-going XKR with the RSR team.

Paul Gentilozzi, principal Partner Jaguar RSR said: "Jaguar is so intertwined with British motoring history making this a fantastic opportunity to debut the Jaguar RSR XKR GT racecar internationally. Having our new GT racecar and the Bonneville prototype XFR on display at the biggest motorsport exhibition in Europe with the production cars that made these possible is such a great way to showcase our dedication to the Jaguar brand and to motorsports."

After taking centre stage at the car show, the Jaguar RSR XKR GT will visit "home" by making stops at Jaguar headquarter sites in Whitley and Castle Bromwich in the UK. "It will be incredibly exciting to take the Jaguar RSR XKR GT back to the team at Jaguar who worked so hard to make this dream a reality," added Gentilozzi. "A picture may be worth a thousand words, but seeing this car in person is priceless."

The competition car uses the standard Jaguar XKR lightweight aluminum monocoque together with additional steel reinforcements and safety structure developed by RSR. The 5.0-litre V-8 engine boasts 550 horsepower at 7000 rpm and a maximum speed of 180mph.

The Jaguar RSR XKR GT made its racing debut during the Petit Le Mans event at Road Atlanta in Braselton, Georgia, in September 2009. The car took its first green flag in the American Le Mans Series season finale at Mazda Raceway Laguna Seca in October and is set for a full-season championship effort in 2010.

Mike O'Driscoll, managing director of Jaguar Cars said: "Our designers and engineers have taken the best of our standard road-going XKR and with Paul Gentilozzi's motorsport expertise created a first-class competition car. Paul and his RSR team are confident that they can compete against some serious competition in the American Le Mans Series (ALMS).

"Motorsport has always been important to the Jaguar brand. Our domination of Le Mans in the 1950s was a foundation on which the company was developed. As we look to the future with our new range of high performance 'R' branded cars, we aim to make the Jaguar brand synonymous with motorsports once again."

In 1951, the C-type won Le Mans at its first attempt, with a further victory in 1953. The D-type took Le Mans wins in 1955, 1956 and 1957 while this racing success was followed in 1988 with the Jaguar XJR-9LM, a V12-powered Group C car. Another outright victory would follow in 1990 with the Jaguar XJR-12.

RSR principle partner Paul Gentilozzi will be in attendance at Autosport International. Aside from his role as team owner, Paul is one of the drivers for the #33 JaguarRSR XKR. Meanwhile, the RSR crew will stay busy with various projects despite the absence of the #33 car as they continue to prepare for the ALMS Winter Test February 22 – 23 at Sebring International Raceway in Sebring, Florida and Season Opener – the 12 Hours of Sebring, March 20.

Asia Motor Works targets Rs. 1,000 crore revenues for current fiscal

On the sidelines of launching its new range of trucks, Asia Motor Works has informed that it is looking to post a sales turnover of Rs. 1,000-crore by delivering 5,000 units by the end of the current fiscal. It was reported pretty recently that AMW had introduced its new 3118 haulage truck for heavy-duty, long distance applications in the Indian transport sector. The latest addition to AMW's product range was unveiled to a large gathering of customers, truck drivers and guests. The 3118 is ideally suited for transporting steel, oil, cement and is also intended for port applications and general market load. The 3118 fulfils the critical requirement of a high performance, robust vehicle suitable for on-road applications. It has been specially designed to offer the maximum cost-per-tonne performance combined with convenience, safety and comfort features that are the best in class in the industry.

Speaking at the launch eevent, Anirudh Bhuwalka, CEO and managing director, Asia Motor Works said, "At AMW we endeavor to provide best-in-class modern vehicles that symbolize product innovation, style, comfort and profitability to our customers. We believe that the 3118 haulage vehicle is a truly global product from our stable lending itself to numerous on-road applications thereby making it an ideal solution to the demanding transportation segment. Our Mobile Service Vans located every 200 km and a 2 hour call away, will be an added service differentiator to the on-road 3118. Backed by innovation and service, the 3118 will drive our product portfolio and ensure significant increase in our ever growing market share." He said the company was also providing air-conditioned, crash-proof cabins to the trucks for the safety and comfort of drivers. He added, "The company's share in the Indian market was only three per cent, but in the segments we are focusing on, our market share is 12 per cent."

In response to whether the underutilisation of the capacity at the Gujarat plant was not a matter of concern to the company, Bhuwalka said the full capacity of 50,000 vehicles a year had been created only six months ago and is rolling out products specially suited to Indian road conditions.

It is to be mentioned that AMW was founded in 2002 and has made a mark in niche segments of the medium and heavy commercial vehicle industry and its vehicles are manufactured at its sprawling 600-acre complex in Bhuj Gujarat. Its 4923 was declared 'Truck of the Year' by NDTV in January 2008. AMW's product portfolio includes its best seller, the 4923 Tractor - India's First vehicle in this segment, 4018 and 4023 tractors, 2523 Rock & Box body tippers, 2518 tipper, transit mixer and haulage vehicles. AMW has a network of over 40 dealers, 132 service stations and 450 authorized service centers across India
 

JK Tyre to establish a greenfield facility in Karnataka

JK Tyre & Industries Limited has recently announced that it is undertaking substantial expansion of its operations in one of the southern states. They had shortlisted Tamil Nadu and Karnataka for this purpose. In this connection Arun Bajoria, president JK Tyre met with a team of senior officials of Govt of Karnataka lead by V.P. Baligar, principle secretary (Industries) recently in Delhi. It is understood that Govt. of Karnataka has assured special incentives to the company for their forthcoming investments.
 

As part of company's growth strategy of expanding its capacity and strengthening R&D, JK Tyre will invest in the state to manufacture truck, bus and car radials to cater to both domestic and international markets.

Announcing the expansion plans, Arun Bajoria, president, JK Tyre & Industries Limited, said" There is an increase in demand for commercial vehicles as well as for passenger cars in the country. We had announced last year to undertake substantial expansion of our tyre operation, therefore our new plant in Karnataka is part of our long term growth strategy.

"Our all new green field plant will by far be a state of the art tyre plant in the country. It will also provide substantial employment to the youths of the state," he further added.

JK Tyre has recently completed expansion of Rs. 315 crore to increase its capacity of truck and bus radial tyres from 4 lakh to 8 lakh tyres per annum and is further planning to invest Rs. 1,200 crore in the next 3 to 4 years to fulfill the demand for quality tyres in the country.

 

Golden Peacock Award 2010 for Mahindra Yuvraj 215 tractor

Mahindra & Mahindra's Farm Equipment Sector kicked off the New Year by winning the prestigious 'Golden Peacock Innovative Product / Service Award - 2010' for Yuvraj 215, the first of its kind in the Indian tractor industry. The award was conferred by Salman Khurshid, Hon'ble Minister for Corporate Affairs, at a specially organized Gala Award Nite in the presence of business & political leaders of the country.

 

"We are delighted to receive the prestigious Golden Peacock award for excellence. The Yuvraj 215 tractor has proven itself as the most innovative product in the category. This victory is testimony to the Mahindra Group's focus on customer-centricity, innovation and technology which are key elements that go into development of every product," said Sanjeev Goyle, SVP, Marketing .

 

The Yuvraj 215, specially designed for farmers with small land holdings, will expand the tractor market at the bottom end of the pyramid and enable every farmer to maximize yield by leveraging mechanization. The tractor has the most superior technology in the 15HP category with best fuel economy and productivity. It also has low operating cost with affordable costs of acquisition.

 

It is to be mentioned that the Golden Peacock Awards were instituted in 1991 and have given tremendous boost to the Industry. For instance India's manufacturing success today is attributed to the competition fostered by the award. These awards are now recognised worldwide as the hallmark of corporate excellence because of their independence, integrity, transparency and through evaluation of application provides opportunity for self assessment and helps companies accelerate the performance and competition. Past winners of the Award include Reliance Industries Ltd, Wipro Infotech Ltd, Spice Mobiles Ltd, Godfrey Phillips India Ltd, Novartis India Ltd, Hindustan Aeronautics Ltd among others.

 

The awards are bestowed annually and are designed to encourage total improvement in each sector of our business. This is the only award, which has meticulously defined and transparent selection criteria and is determined by highly elaborate and independent assessment process.

 

Korean President confers Venu Srinivasan Order of Diplomatic Service Merit

Korean President confers Venu Srinivasan Order of Diplomatic Service Merit

 

Venu Srinivasan, Honorary Consul General of the Republic of Korea, Chennai and Chairman, TVS Motor Company was felicitated by the President of the Republic of Korea, His  Excellency Lee Myung-bak with the distinguished civilian honour 'Order of Diplomatic Service Merit' in recognition of his valuable contribution in promoting Korea-India bilateral relations. This award is conferred for meritorious service to the extension of national prestige overseas and to the promotion of friendship with other nations.

 

The 'Order of Diplomatic Service Merit' was bestowed on Mr. Srinivasan for his persistence, hard work and focused efforts in promoting inter-cultural dialogue by facilitating and accomplishing  consistent programmes that drew on the rich traditions of both India and Korea. This has also enhanced relations between the two countries, manifested in the increased understanding and strengthened friendships among our two great cultures.   

 

The award was conferred on Mr. Venu Srinivasan during the visit of the President of Korea to Hyundai Motor Company in Chennai, who is on a State visit to India and will also be the Chief Guest at the Republic Day Parade in New Delhi this year.

 

Mr. Venu Srinivasan, who is also the current President of CII has earlier been conferred with several honours including, Doctor of Science, University of Warwick, JRD Tata Corporate Leadership Award by All India Management Association (AIMA) and Doctor of Science, IIT, Kharagpur.  

 

Ashok Leyland signs MoU for vehicle financing with Karur Vysya Bank

Ashok Leyland, the Hinduja Group flagship and Karur Vysya Bank (KVB) with its dominant presence in the Southern states executed a Memorandum of Understanding, based on which KVB shall offer very attractive terms to all commercial vehicle purchasers, especially SRTOs. 

KVB is very active in financing Ashok Leyland trucks and buses. Given KVB's wide client base among SMEs, and expertise in solving their funding needs, this association will be of immense benefit to our mutual customers, said K. Sridharan, chief financial officer of Ashok Leyland. This MoU will enable synergizing the strengths of both organizations, stated T. M. Lakshmikanthan, executive Director of KVB.

Hero Honda third quarter PAT grows 78.3 per cent to Rs. 535.77 crore

Hero Honda Motors, the world's largest two-wheeler manufacturer, has reported a profit after tax (PAT) of Rs.535.77 for the third quarter (Oct – Dec'09) of  2009-10 - a growth of over 78.34 per cent over the corresponding period in the last fiscal. The company has recorded an EBIDTA margin of 17.27 per cent in the quarter. The EBIDTA margin in the corresponding quarter (Oct - Dec'08) was 14.47 per cent.  

It has been a remarkable year for Hero Honda with the company posting sales of over a million units and a PAT of over Rs. 500  crore in each of the quarters. With the third quarter of fiscal 2009, Hero Honda concludes the calendar year with record sales of over 4.4 million units, a growth of 22 per cent over the calendar year 2008 when the company had sold 3.6 million units. With this, Hero Honda has retained the coveted status of World No.1 two-wheeler manufacturer for the 9th consecutive year. 

Riding on a record cumulative sales of 34,13,594 million units of two wheelers in the fiscal so far, Hero Honda's total turnover (Net sales & Other Operating income) grew to Rs 11708.91 crore, a growth of 31.05 per cent over Rs 8934.36 crore recorded in the corresponding period last fiscal. The company has recorded an EBIDTA margin of 17.55 per cent in the nine months ending December 09. The EBIDTA margin in the corresponding previous period (April - Dec'08) was 13.44 per cent. The company continued with its commendable top line performance as sales volumes were up 25.31 per cent per cent during last nine months, while the industry grew by 20.05 per cent per cent during the same period. 
 

Dr. Brijmohan Lall, Chairman, Hero Honda Motors Ltd, said "Hero Honda's strong foundation, the value system and partnership with all our stakeholders have been the key to our continued success. I am delighted that the company has been making great strides in fulfilling its larger vision of a progressive India. I am confident that the company will continue with its sustainable contribution to making the dream of mobility for every individual in the country come alive."  

Pawan Munjal, MD & CEO, Hero Honda Motors Ltd., said "It has indeed been a phenomenal year for us, as reflected in our both top line growth and bottom line performance. In view of the projected GDP growth and the continued success of the government schemes directed at rural infrastructure and employment generation, we are expecting market demand to remain bullish. Therefore, going forward, we would also have to look at further augmenting our installed capacity in our existing manufacturing plants, and also at the possibility of a new plant sometime in the near future".  He added, "Instead of resting on our laurels, we are indeed relentlessly working towards bringing more innovative, value-added products for our customers. As we enter the calendar year 2010, and the fourth quarter of FY'10, we remain quite optimistic on our performance. In the short term, however, we are closely monitoring the movement of commodity prices which are on an upward trajectory. The rising input costs, as indeed the retail financing situation, remain areas of concern for the industry." 

As part of its product strategy, every year the company launches 8-9 new models. In line with this, Hero Honda has so far launched six new models during this financial year– the ZMR, Limited Edition Splendor, and the new Hunk, the new Passion Pro, the new Pleasure and the new Splendor NXG. During the balance months of the financial year, the company will further augment its product portfolio with new launches across segments. The scooter 'Pleasure' has also been growing strongly, with more than 16,000 units being sold every month on an average