OnCars Buzz: December 27, 2012

Diesel car sales slow; 800cc Nano coming soon; Duty on spares dropped and classic Ferrari to become most expensive car in the world!

Written by: Oncars India

Published: December 27, 2012, 1:01 PM IST

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– Ferrari sportscars are an expensive breed – and there is no doubt about that. However, classic Ferrari can cost a fortune like none other. At an auction that is scheduled to get underway on January 18, 2013, a 1960 Ferrari 250 GT SWB Berlinetta ‘Competizione’ is expected to fetch over £ 4 million (Rs 32 crore approx.) – which is more money than an Aston Martin One-77 or almost two times the cost of a brand new Bugatti Veyron. The particular Ferrari 250 GT SWB Berlinetta ‘Competizione’ has changed four owners in the past 52 years and was the 17th model in the series to roll of the production line. The 250 GT Berlinetta is powered by a V12 engine that dispenses over 280 PS power which is good to propel the Pininfarina bodywork from 0 to 100 km/h in less than six seconds. A similar car was sold for £ 3.1 million in 2011.

– Carmakers that are dependent on spare parts that are imported from ASEAN countries -which primarily include Indonesia, Malaysia, Singapore, Thailand and the Philippines – are breathing a sigh of relief as the Government has decided to decreases the import duty on these items. As per the current structure, automotive spare parts attract a duty of 10%. From January 2013 though the taxes will be halved, to 5%. This move comes as a part of the proposed Free Trade Agreement (FTA) with the ASEAN regions and the taxes on spare parts are expected to be waved-off completely by December 2013. Carmakers like Toyota, Nissan, Honda and Maruti Suzuki are expected to be the biggest beneficiaries of the new tax structure. 

– In a new development, it is understood that Suzuki Motor Corporation may soon allow it's Indian subsidiary, Maruti Suzuki to take the position of a low-cost brand in other emerging international markets. Currently, Maruti cars that are being exported such as the A-Star and the Ertiga to the European markets are sold there under Suzuki's brand. However, for the emerging markets such as Africa, Suzuki now plans to sell cars under the 'Maruti Suzuki' tag, which will be termed as a low-cost brand in those markets.

– Tata is looking at offering an all-new version of the Nano that will be powered by an 800cc engine. The new line-up is expected to co-exist with the current Nano variants that use a 624cc engine. The 800cc model though is expected to start at Rs 2.5 lakh and will take on the Maruti Suzuki Alto 800 and the Hyundai Eon, which are powered by similar engine sizes. A diesel Nano is also in the works, however, the 800cc version could be launched earlier. 

– Toyota Kirloskar Motors (TKM) is restructuring its management in order to help the company take faster decisions as per the market response. Mr Sandeep Singh, who was the Deputy Managing Director – Sales, Marketing & Customer Service, has been promoted to the post of Deputy Managing Director and Chief Operating Officer, as per which he will head sales, marketing, customer service and commercial divisions. Mr Shekar Viswanathan, Deputy Management Director – Commercial, has been promoted to the post of Vice-Chairman – External Affairs. The management change will be in effect from January 1, 2013.

– Maserati has officially confirmed that the company is working on building a direct rival for the benchmark-setting sportscar, the Porsche 911. Based on the sister brand Alfa Romeo’s 4C which is yet to make its debut, this all new sportscar will join Maserati’s current lineup of high-performance offerings including the Quattroporte and the GranTurismo.

– Diesel car sales are facing a slow-down say the carmakers and most of the popular diesel cars in the market are off the waiting list. December undoubtedly is a slow month for car sales, however, carmakers cite the uncertainty on the diesel pricing to be the core problem. The drop is sales of diesel cars haven’t pushed the petrol cars either. With the gap between petrol and diesel prices decreasing, customers seem to be deferring their car-buying plans until the prices stabilize. 

– Tata Motors, one of the biggest names in the business of rugged SUVs, has faced a slow-down in the past few years – thanks to its negligence to the market’s demand for newer designs. While the carmaker is now busy with incorporating its new design language on the future products, the engineers are also busy in conceiving a compact crossover based on the Vista’s X1 platform. Tata has high hopes from this product as the compact crossover market in booming at the moment with vehicles like the Mahindra Quanto and the Renault Duster giving the sedans the run for their money. Tata also believes that the upcoming Nano diesel could be a savior for the company with its high fuel-economy and low cost of ownership being the probable crowd-pullers.

– Just last month, Audi India had announced that it would soon be increasing the prices of its entire range of car models. The carmaker didn’t give out any detailed figures, but confirmed a 5 per cent hike in the prices. Now though, Audi India has announced the details of increase in prices of its entire model range.  

– Formula SAE is a well-known competition that brings out the best in the engineering students who have an inclination towards developing and building automobiles. A similar, IIT Delhi based team of young engineering students who go by the name of ‘AXLR8R’, has been participating in FSAE competitions around the world since 2007, is now aiming to take their expertise to the Formula SAE Italy 2013 competition. After winning the title of the Best Performing Team at FSAE UK in 2012, the team has improved their race car with new tech and design and is all set for the Italian competition.

– The Porsche 918 Spyder has steadily been in the news right since the time it was first announced and now it seems the production version is nearing reality with the Stuggart-based automaker having filed a patent application for the design in China. The first-ever images of what is said to be the produciton model of the much-anticipated supercar have been leaked. 

– An Italian automotive portal called Ilgiornale.it is claiming that the upcoming, all-new Punto will be called the ‘Pandona’. It will be made at Fiat’s plant in Serbia, where the 500L MPV is being manufactured. The 500L’s underpinnings will serve as the platform for the new Punto / Pandona as well. The all-new model is expected in 2014 and is in fact, long overdue. 

– Hyundai had recently updated its Santa Fe SUV in the United States with a new iteration of its nature-inspired design language. Called the Strom Edge design philosophy, the redesigned Santa Fe looks a lot more aggressive than the model that is sold in India. After the States, the new Santa Fe has made inroads into China. India though, will have to wait for at least a couple of quarters more before the current model is replaced.