The Hindu Business Line : Bank-rolled Innova

As part of the celebrations on the sale of 50,000 Innovas, Toyota has come out with yet another offer on the SUV. The automaker has tied up with ICICI Bank for a finance scheme. Under the scheme, Toyota is offering three options for loans taken from the bank that have a minimum tenure of 36 months. Customers may either choose the zero down-payment option, the 4 per cent subsidised interest rate scheme, or the lower EMI offer (it is Rs 12,902).

Audi's Q7

Audi has rolled out petrol and diesel versions of its sports-utility vehicle `Q7', raising its product count in India to four. The petrol variant of the SUV, powered by an eight-cylinder engine, generates a humungous 350 bhp. The diesel variant, with a six-cylinder engine, delivers a maximum of 233 bhp. The petrol variant Audi Q7 4.2 FSI sports a price tag of Rs 77.5 lakh (ex-showroom Delhi), while its diesel-powered mate Audi Q7 3.0 TDI comes at Rs 61 lakh. The carmaker plans to raise its network presence by opening five new dealerships.

Market Buzz

Bajaj's new scooter foray

With the scooter market getting increasingly lucrative, Bajaj Auto has turned its focus on this segment. The two-wheeler major plans to introduce its DTSi (Digital Twin spark-ignition) technology in scooters. The company plans to launch `Crystal', a 100-cc scooter with this technology by end-November. The new scooter is likely to sport features such as front fuelling and a glow key ignition switch.

Volkswagen settles for Maharashtra

Volkswagen is all set to roll into India. The German auto major, after scouting for opportunities in Punjab, has zeroed in on Maharashtra. Volkswagen reached an agreement with the State government to set up a plant at Chakan near Pune. The carmaker will invest about Rs 2,500 crore in the new facility. The company hopes to begin production, initially of small cars, by end-2007.

Suzuki hikes project plans

With competition hotting up, Suzuki has revised its expansion plans for India. Suzuki, along with its Indian subsidiary Maruti, has proposed to invest about Rs 9,000 crore in India until 2010.

The revised proposal is about Rs 3,000 crore more than its earlier estimate. It plans to build a small car plant, diesel engine facility and transmission unit.

BMW's roadmap

BMW has firmed up its production plans in India. The luxury carmaker plans to invest about 20 million euros in Indian operations by end-2006. It plans to start production at its upcoming facility in Chennai by the beginning of 2007.

The German major plans to produce both the diesel and petrol versions of the BMW 3 and BMW 5 series saloons at this facility. It hopes to widen its footprint by setting up six new dealerships, and tap the small-car market in India with its `Mini' brand.

Alagappan Arunachalam

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