The upward revision in the ex-showroom prices of its motorcycles and scooters will be effective from January 1, 2010.
"The company will inspect 63,493 vehicles of petrol SHVS of Ciaz, Ertiga and XL6 for a possible issue with the Motor Generator Unit (MGU)," MSI said in a statement. A possible defect may have occurred in the MGU during manufacturing by an overseas global part supplier, it added. The vehicles were manufactured between January 1, 2019 to Nov 21, 2019.
The company, whose sales declined 16% to 9,915 units in the nine months to September, is planning to launch a vehicle every month to attract buyers. Mercedes Benz India managing director Martin Schwenk told ET that the local market saw a turnaround in sentiment during the festive season. The company is optimistic it will be able to sustain the momentum.
MG Motor India managing director Rajeev Chaba said the company had already started working on the project, taking cues from the requirements of local consumers. The concept will be completed in the next one year, and a production model may hit the roads in the next three to four years, he said.
The company has initiated a feasibility study for fuel cell electric vehicles in the country and promises to being a solution with zero emissions, he added. Fuel cell electric vehicles are free from all kind of green house gas emissions. Earlier this year, Hyundai had launched fully-electric SUV Kona in the country.
Maruti Suzuki, Mahindra & Mahindra, Ford, Toyota, Mercedes Benz and Audi plan to raise the prices from January 2020. The carmakers told ET that the price hike has been planned to counter the inflationary pressures. The country’s largest carmaker Maruti Suzuki said the production cost has shot up because of increase in raw material prices.
Demand for diesel cars is expected to taper off further going ahead owing to various reasons.
EBIT (earnings before interest and tax) margin for the division stood at19.5 per cent in the first half of the fiscal year.
MD Naveen Munjal told ET that although sales of electric two-wheelers were subdued in the first half of this financial year, the company expects demand to pick up substantially in the coming years as legacy players such as Bajaj Auto enter the segment.
Toyota is looking at stopping sale of small diesel vehicles post the transition to BS VI emissions standards.
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