Category: Automotive

Retail News Asia is committed to providing both local and global retailers with the latest Auto and Car news throughout the Asian market. This on a daily base.

  • Rolls-Royce Announces Black Badge Ghost

    Rolls-Royce Announces Black Badge Ghost

    The Black Badge has been a highly successful alter ego of Rolls-Royce and it now represents more than 27 percent of commissions worldwide. Rolls-Royce debuted Black Badge with Wraith and Ghost in 2016, followed by Dawn in 2017 then Cullinan in 2019. And now another joins this elite club – the Black Badge Ghost. Conceived in response to a group of clients who requested a Rolls-Royce that was agile, discreet, highly connected and free of any superfluous design, the new Ghost is not just the most technologically advanced Rolls-Royce yet, but also the most aesthetically pure.

    In the twelve months since this motor car has been available, it has become one of the fastest-selling products in the marque’s history, having sold more than 3500 examples worldwide. With the Black Badge Ghost, Rolls-Royce is giving its customers a choice to select any of the marque’s 44,000 colours or create their own entirely unique Bespoke hue.

    To match this dramatic coachwork, the marque’s Bespoke Collective of designers, engineers and craftspeople collaborated to create an entirely customizable process that allows Rolls-Royce hallmarks such as the high-polished Spirit of Ecstasy and Pantheon Grille to be subverted. Instead of simply painting these components, a specific chrome electrolyte is introduced to the traditional chrome plating process that is co-deposited on the stainless-steel substrate, darkening the finish. Its final thickness is just one micrometer – around one-hundredth of the width of a human hair. Each of these components is precision-polished by hand to achieve a mirror-black chrome finish before it is fitted to the motor car.

    The exterior treatment resolves with a Bespoke 21-inch composite wheelset. Designed in the Black Badge house style and reserved for Black Badge Ghost, the barrel of each wheel is made up of 22 layers of carbon fibre laid on three axes, then folded back on themselves at the outer edges of the rim, forming a total of 44 layers of carbon fiber for greater strength. A 3D-forged aluminum hub is bonded to the rim using aerospace-grade titanium fasteners and finished with the marque’s hallmark Floating Hubcap, ensuring the Double R monogram remains upright at all times. To celebrate the material substance and remarkable surface effect, a lightly tinted lacquer is applied to protect the finish but still allow clients to observe the technical complexity of the wheel’s unique carbon fibre construction.

    Advanced luxury materials have been meticulously created and crafted for a unique ambiance in the interior suite. While recalling the dramatic mechanical intent of Black Badge Ghost, the materials are true to Ghost’s Post Opulent design philosophy – one defined by authenticity and material substance rather than overt statement. In this spirit, a complex but subtle weave that incorporates a deep diamond pattern rendered in carbon and metallic fibres has been created by the marque’s craftspeople.

    Multiple wood layers are pressed onto the interior component substrates, using black Bolivar veneer for the uppermost base layer. This forms a dark foundation for the Technical Fibre layers that follow. Leaves woven from resin-coated carbon and contrasting metal-coated thread laid in a diamond pattern are applied by hand to the components in perfect alignment, creating a three-dimensional effect. To secure this extraordinary veneer, each component is cured for one hour under pressure at 100 degrees Celsius.

    The Black Badge Ghosts comes with a twin-turbocharged 6.75-litre V12 engine pushing out 592 bhp and total torque is now up by 50 Nm to 900 Nm. The powertrain has also received Bespoke transmission and throttle treatments to further enhance the engine’s increased power reserves. The ZF eight-speed gear box and both front- and rear-steered axles work collaboratively to adjust the levels of feedback to the driver, depending on throttle and steering inputs.

    As with all products in the marque’s Black Badge portfolio, the ‘Low’ button situated on the gear selection stalk unlocks Black Badge Ghost’s full suite of technologies. This is asserted by the amplification of the motor car’s engine through an entirely new exhaust system, subtly announcing its potency. All 900Nm of torque is available from just 1700rpm and, once underway in Low Mode, gearshift speeds are increased by 50% when the throttle is depressed to 90%, delivering Black Badge Ghost’s abundant power reserves with dramatic immediacy.

  • Auto registration fee to be halved again

    Auto registration fee to be halved again

    The Ministry of Finance has said the registration fee for locally manufactured automobiles will be halved for six months until May 15 next year.

    If the government issues the decree for the purpose after Nov. 15, the fee cut would apply from Dec. 1 to May 31, it said, explaining the reduction is meant to stimulate demand and help boost investment and revive supply chains in the auto industry.

    When the fee was similarly cut in the second half of last year, it helped increase auto sales and tax collection increased by VND14.11 trillion ($613.48 million).

    Over 102,900 automobiles produced in the country were registered in the first half of last year, and the number doubled in the second half when the fee was halved.

    Some neighboring countries like Indonesia and Malaysia have also offered preferential treatment to their domestic automobile industry amid the Covid outbreaks, it added.

    Eleven foreign automobile firms that do not manufacture in Vietnam, including Audi, Volkswagen, Subaru, Volvo, Jeep, and Porsche, recently called on the government to apply the registration fee cut also to imported vehicles.

    The Vietnam Automobile Manufacturers Association had also called on the ministry for similar cuts for both local products and imports, but the ministry rejected it as not appropriate.

    The association said its members sold 170,073 vehicles in the first nine months of this year, a year-on-year decrease of 1 percent. The numbers do not include sales of Audi, Jaguar-Land Rover, Subaru, Volkswagen, Volvo and some others who did not reveal their numbers.

    According to the General Statistics Office, Vietnam imported 112,000 complete built-up vehicles in the nine-month period, up 67.9 percent.

  • Chipmaker Infineon Plans 50% investment Boost

    Chipmaker Infineon Plans 50% investment Boost

    German chipmaker Infineon Technologies said on Tuesday it plans a 50% hike in investments next year, boosting its shares as it looks to benefit from soaring demand and a global shortage in semiconductors. Infineon said it would invest around 2.4 billion euros ($2.8 billion) in 2022, up from about 1.6 billion euros this year.

    The leading supplier of chips to the auto industry forecast revenue would grow by a mid-teens percentage next year, with a segment result margin – a measure of operational profitability – of around 20%, up from a 2021 target for 18%.

    “The main part of the sales growth will come from capacity building, but also a decent part from higher prices, some of which we will pass on to customers,” Schneider said.

    Infineon opened a 1.6 billion euro plant in Austria last month, boosting its ability to supply power chips for cars, data centres and renewable power.

    The company has blamed a lack of investment in new capacity by its manufacturing partners for tightness in semiconductor markets as demand rebounded after coronavirus lockdowns, disrupting chip supplies, especially in the car industry.

    Contract chipmakers have invested chiefly in the production of higher-margin processors used in devices like smartphones, leaving existing plants unable to meet demand for the older chips used in cars.

    Infineon opened a 1.6 billion euro plant in Austria last month, boosting its ability to supply power chips for cars, data centres and renewable power.

    The Munich-based firm could decide to build another factory soon, assuming the rapid adoption of electric vehicles continues to take up capacity in its existing plants, Stifel analyst Juergen Wagner predicted.

    Schneider said he expected the shortage of chips to drag on well into 2022, welcoming European efforts to increase semiconductor production capacity.

    Infineon confirmed guidance for 2021 revenues of 11 billion euros.

  • Porsche Taycan Electric Sports Car India Launch Date Announced

    Porsche Taycan Electric Sports Car India Launch Date Announced

    The long wait for the Porsche Taycan in India is over and the company is all set to launch the all-electric sports car in the country in November. The company will launch the car on November 12, along with the new Macan. We have been awaiting the arrival of the Taycan in the country and we can’t wait to see it in the flesh soon.

    Globally, the Taycan has had phenomenal success. The company has already sold 28,640 units of the electric sports car in the first 9 months of 2021 and that’s a big deal. With India on the map too, sales will definitely get a boost, considering that a lot of people have been awaiting the launch of this car in the country.

    The Porsche Taycan sports two permanently excited synchronous electric motors that can churn out a maximum of 600 bhp and will a range of over 500 km thanks to its high voltage lithium-ion batteries. The electric car will get 800-volt chargers with fast charging capability, which can offer a 400 km range in 15 minutes of charge time. It can go from 0-100 kmph in under 3.5 seconds.

  • Electric Vehicle Battery Startup ONE Backed By BMW

    Electric Vehicle Battery Startup ONE Backed By BMW

    Michigan-based Our Next Energy, which is developing an advanced battery for electric vehicles, has raised $25 million from investors ranging from German automaker BMW to a clean technology venture firm headed by Microsoft co-founder Bill Gates, the young company said on Monday.

    Investors in ONE’s Series A round include BMW iVentures, Detroit-based Assembly Ventures and Chicago-based Volta Energy Technologies, which is partnered with Argonne National Laboratories. Another investor is Singapore-based electronics manufacturer Flex Ltd, which is also a strategic partner with ONE.

    The round was led by Breakthrough Energy Ventures, the investment arm of Breakthrough Energy, founded by Gates in 2015 to support and fund innovations to counter climate change. Among the Kirkland, Washington company’s investments: Battery recycler Redwood Materials, electric aircraft maker ZeroAvia and solid-state battery developer QuantumScape.

    ONE, a year-old startup that only recently emerged from stealth mode, is working on a dual battery that combines a structural cell-to-pack design that uses cobalt- and nickel-free cathodes, with a second, high-energy pack that can recharge the first, potentially doubling vehicle range to 750 miles.

    ONE founder and chief executive Mujeeb Ijaz, a battery systems engineer with more than 30 years’ experience at Ford Motor Co, Apple Inc and A123 Systems, said of the financial backers, “We wanted to surround ourselves with people who are in this for the long term. They can help our company grow, and they are also magnets for other technology.”

    The new investment will help fund research and development, ranging from battery software and power electronics to artificial intelligence and machine learning, Ijaz said.

    “We plan to go from raw materials all the way to (battery) cell manufacturing,” he said, adding that ONE may seek additional funding and partners next year to help the company scale-up manufacturing.

  • Elon Musk Shares Secret About CyberTruck Mirrors

    Elon Musk Shares Secret About CyberTruck Mirrors

    When the CyberTruck was unveiled for the first time in 2019 it had these cameras which doubled as side-view mirrors. But at the time many believed that the regulators aren’t going to allow Tesla to pull off this stunt. So more recently, the car was indeed seen with mirrors. But these mirrors ruin the seamless symmetry and the cyberpunk futurism of the car. Now, in a tweet, Elon Musk has revealed that the mirror is required by the law but they have been designed in such a way that they can be removed easily by the owners.

    The side-view mirrors are a requirement of the US Federal Motor Vehicle Safety Standard referred to as Rear Visibility. The side mirrors assure that the driver has a good view of obstacles around the sides and the rear of the truck.

    Tesla strived to remove the mirrors altogether as modern cars also come with blindspot detection cameras as well as rearview cameras which help in reversing. Tesla has always future-proofed its cars with advanced hardware and constant software updates and if and when the regulation is changed Tesla has added the ability for its owners to remove the mirror as the cameras are already baked in.

    Tesla’s vehicles also come with advanced autonomous capability and the Cybertruck will be the first car it releases that will come with a new generation of self-driving chips and cameras. In other words, these cars by the time they come out in 2022 will have the latest hardware and software and an old-school solution like side-view mirrors will be hugely redundant.

  • Tesla Zooms Past $1 Trillion Market Cap On Bet That The EV Future Is Now

    Tesla Zooms Past $1 Trillion Market Cap On Bet That The EV Future Is Now

    Tesla is the first carmaker to join the elite club of trillion-dollar companies that includes Apple Inc, Amazon.com Inc, Microsoft Corp and Alphabet Inc.

    Most automakers do not boast about sales to rental car companies, often made at discounts to unload slow-selling models. But for Tesla and its investors, Hertz’s decision to order 100,000 Tesla vehicles by the end of 2022 showed electric vehicles are no longer a niche product, but will dominate the mass car market in the near future.

    “Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” Hertz interim Chief Executive Officer Mark Fields told Reuters.

    Tesla Chief Executive Elon Musk has set an annual sales growth target of 50%, on average, eventually reaching 20 million vehicles a year. That would be more than twice the volume of current sales leaders Volkswagen AG and Toyota Motor Corp.

    Consumer demand for electric vehicles is turning a corner in some major markets. The Tesla Model 3 was the best-selling vehicle of any kind in Europe last month, consulting firm JATO Dynamics reported Monday.

    Tesla also appeared on Monday to be making progress resolving regulatory problems that threatened its business in China. The company said it had opened a new data and research center in Shanghai to comply with government requirements that data collected from vehicles in China stay in the country.

    However, Tesla faced new U.S. regulatory pressure on Monday. The National Transportation Safety Board’s new chief sent Musk a letter questioning why Tesla was rolling out its “Full Self Driving” software even though the company has not officially responded to the NTSB’s questions about the automated driving system’s safety.

    “It (the Hertz order) puts an exclamation point under guidance for 50%+ growth in deliveries,” Roth Capital analyst Craig Irwin said. “Another solid piece of evidence EVs are going mainstream.”

    Tesla now faces the daunting day-to-day challenge of becoming a high-volume automaker growing at a rate not seen since the early 1900s when demand exploded for Henry Ford’s Model T.

    Tesla is coping with an order backlog for its vehicles and extended supply chain disruptions. Tesla Chief Financial Officer Zachary Kirkhorn cautioned investors during a call last week that Tesla’s near-term production goals will hinge on resolving those disruptions and ramping up two new, huge assembly and battery plants in Austin and Berlin.

    “There is quite an execution journey ahead of us,” Kirkhorn said.

    Rivals are not sitting still. Daimler AG’s Mercedes-Benz brand, General Motors Co, Ford Motor Co, and startups such as Lucid and China’s Xpeng are all battling Tesla with new electric cars or trucks.

    Investors and analysts, for now, are looking past the near-term challenges. Morgan Stanley boosted its Tesla price target by 33% to $1,200 as the brokerage expects the electric carmaker to surpass 8 million deliveries in 2030.

    The Hertz deal also underscored the power of the Tesla brand, as the rental car company emerges from bankruptcy and aims to revive its once-dominant brand. Hertz’s rescue is led by a group of investors including Knighthead Capital Management, Certares Opportunities and Apollo Capital Management.

  • Zeekr’s 001 EV Goes Into Production

    Zeekr’s 001 EV Goes Into Production

    Chinese EV startup Zeekr has announced that its new 001 sedan is now in production. Zeekr is part of the Geely Holding Group which also owns Volvo and Polestar. The first deliveries of the Zeekr 001 will start in China this weekend. Zeekr is a more luxury-focused EV brand, unlike Polestar which is more mass market.

    This launch comes on the back of the announcement of the sustainable experience architecture which is an open-source chassis base. There are more EV brands under the Geely umbrella including Lynk & Co, Geometry will still be upon the same chassis

    Zeekr intends to compete with Tesla in China. While it is part of the Geely holding group in July, Geely pulled out as a majority shareholder in the brand, though it still has control of other subsidiaries. It even features Intel Capital CATL as investors.

    There was a ceremony at Zeekr’s intelligent factory which even features a 5G network, 300 automated welding robots, and other production systems which are being continuously self optimized using AI.

    The 001 EV features 400 kW of power with 768 nm of torque with a dual-motor system. It can do 0-100 km/h in just 3.8 seconds and can halt from the same speed in 34/5 meters. The impressive bit is that Zeekr is saying its Z-Battery architecture can charge from 0-80 percent in 30 minutes and can deliver 526-712 km of NEDC range.

    It also shared its first set of over-the-air updates to further improve Zeekr assisted drive system after the first deliveries. It has an approximate cost of between $44,000-$56,500.

    10 Zeekr Spaces planned in China that will join two already opened facilities in Hangzhou and Tianjin. Zeekr is also planning on opening 360 kW charging stations across 10 Chinese cities this year.

  • Ducati To Become Official MotoE Supplier From 2023

    Ducati To Become Official MotoE Supplier From 2023

    Ducati will be the official motorcycle supplier for the FIM MotoE World Cup, the all-electric racing class at select rounds of the MotoGP World Championship, alongside Moto2 and Moto3. Ducati’s partnership with MotoE is set to begin from the 2023 racing season and will continue through 2026. The news of Ducati supplying MotoE machines has important implications and will be seen as one of the first step towards developing all-electric production machines from the iconic Italian brand. As with the MotoGP and World SBK projects, MotoE is largely expected to prove to be the perfect laboratory to take technology and innovation from the track to the showroom.

    The news comes just after Modena-based Energica announced that it will not renew its contract with Dorna Sports, which expired in 2022, after a four-year partnership. Energica is one of the few manufacturers of high-performance electric motorcycles, and the Energica Ego Corsa racebike used by all MotoE race teams is based directly on its street-legal electric superbike, the Energica Ego.

    Ducati Motor Holding CEO Claudio Domenicali and Dorna Sports CEO Carmelo Ezpeleta announced the partnership at a press conference held at the Misano World Circuit Marco Simoncelli. The MotoE World Cup came into existence in 2019 as part of MotoGP promoter Dorna Sports and the FIM’s push for greener motorcycle racing.

    “We are very proud of this agreement because, like every first, it represents a historic moment for our company. Ducati is always focused towards the future and every time it enters a new world it does so aiming to create the best-performing product possible. This agreement comes at the right time for Ducati, which has been studying electric powertrains for years, as it will allow us to develop within a controlled field: that of competition. We will work to give every participant in the FIM MotoE World Cup a high-performance, electric motorcycle and one made to exemplify being lightweight. It’s in the area of weight, which is a fundamental element of sports bikes, which will prove the greatest challenge. Lightweight machinery has always been in Ducati’s DNA and thanks to the technology and chemistry of the batteries that are evolving quickly, we are sure that we can achieve excellent results.

    “We test our innovations and future-focused technological solutions on circuits all over the world and then create exciting and desirable products for Ducatisti. I am convinced that, once again, we will treasure the experience we gain in the world of competition in order to transfer and apply it to production motorcycles,” said Claudio Domenicali, CEO, Ducati Motor Holding.

    According to Ducati, the new MotoE machine will be purpose built from the principles of Ducati’s racing DNA, with focus on creating a lightweight motorcycle “that unites tradition, passion and innovation for a new era of electric competition in the MotoGP paddock.”

  • Xiaomi CEO Says It Will Be Mass Producing Its EV By 2024

    Xiaomi CEO Says It Will Be Mass Producing Its EV By 2024

    Xiaomi’s CEO Lei Jun has revealed that the world’s third-largest smartphone maker is ahead of schedule for making its foray into the automotive sector and will start mass-producing its EVs in the first half of 2024. These comments were made at an investor event. But then the Chinese billionaire tweeted his thoughts as well. “Xiaomi EV is ahead of schedule. Aiming for mass production in 2024 H1,” he said on the social media platform. His executives also went to Chinese social media platforms to confirm the news. Zang Ziyuan who is a director for marketing at Xiaomi also posted this news on his verified Weibo account.

    In March, Xiaomi had announced that it would be investing $10 billion in the new electric car division over the next 10 years. The company finished the registration of its electric car business in August and already it has ramped up hiring for the unit – though it hasn’t revealed whether it is going to make the car or will partner with someone.

    Its close partner for the manufacturing of smartphones, Foxconn, has already announced its own electric car venture, and considering manufacturing isn’t Xiaomi’s forte, this would be a partnership that’s likely to happen.

  • Land Rover Range Rover Teased Ahead Of Debut

    Land Rover Range Rover Teased Ahead Of Debut

    The Land Rover Range Rover is no ordinary SUV and the arrival of the new-generation model is always special. It’s one of the oldest brands in the full-size luxury SUV segment and the next-generation model will rival the likes of the Mercedes-Maybach GLS and BMW X7 and other premium SUVs like the Aston Martin DBX, Porsche Cayenne, and even the Lamborghini Urus gave its pricing. Land Rover has released the first teaser of the 2022 Range Rover which is a new-generation model and is all set to make its official debut on October 26, 2021.

    Now the teaser image doesn’t give us much insight of the design but we get a sense that the overall silhouette has been retained. That said, expect to see some significant updates made to the front end and even at the rear. The bronze color SUV in the teaser image also gives us an idea that Land Rover might introduce some new body colors on the new Range Rover. Then, it is also expected to be an all-new model by transitioning to Jaguar Land Rover’s new MLA platform. Then, the 2022 Range Rover will be offered with a variety of powertrain options which will include plug-in hybrid (PHEV) as well, and of course in both configurations. The latter is probably scheduled to arrive later in the model’s life cycle. And finally, expect a performance version as well with the 4.4-liter, twin-turbo V8 engine sourced from BMW.

    Switching to the new platform should bring some significant updates as well like more room on the inside where a potential increase in the vehicle’s size is expected. Land Rover’s latest Pivi Pro infotainment system is one of the safest guesses on the inside, given its flagship status and some variants are also rumored to get rear-wheel steering offering tighter turning radius at lower speeds and better agility at higher speeds

  • Tesla Q3 2021 Results Out; Meets Expectations After Sublime Quarter

    Tesla Q3 2021 Results Out; Meets Expectations After Sublime Quarter

    Tesla has delivered the goods in its Q3 2021 earning report with it reporting revenues of $13.76 billion which is slightly below the lofty expectations of the analysts at Wall Street which expected revenues of $14 billion.

    “The third quarter of 2021 was a record quarter in many respects. We achieved our best-ever net income, operating profit, and gross profit. Additionally, we reached an operating margin of 14.6%, exceeding our medium-term guidance of “operating margin in low-teens,” said the electric car maker in its announcement.

    Notably, Tesla’s automotive gross margins improved by 30 percent in this quarter despite cost pressure from the supply chain as the world continues to suffer from a global semiconductor crisis. Tesla’s engineers were swift to rewrite code for new parts which helped the company navigate the crisis well.

    But despite these improving margins, Tesla’s cash in hand actually went down due to debt repayment.

    “Quarter-end cash and cash equivalents decreased to $16.1B in Q3, driven mainly by net debt and finance lease repayments of $1.5B, partially offset by the free cash flow of $1.3B. Our total debt excluding vehicle and energy product financing has fallen to just $2.1B at the end of Q3,” said the company in its shareholder letter.

    This quarter Tesla has started sales of the Model S Plaid which has been a success, apart from it opening its Berlin Gigafactory which has started rolling out Tesla Model Y units. Earlier in the year, the Model 3 became the best-selling executive sedan in the world, but Tesla estimates, the Model Y will overtake its sales at some point.

  • Volvo’s OTA Update Optimises EV Range With New App

    Volvo’s OTA Update Optimises EV Range With New App

    Swedish automaker Volvo has started to deploy an OTA update which also comes with a new app called “Range Assistant” which optimizes the range of its electric cars. It features a smart battery management tool that has a preconditioning timer, and the assistant app itself. This update is also coming to Volvo’s subsidiary Polestar which exclusively makes electric vehicles.

    “Through in-house development of software and over-the-air updates, we can constantly improve our cars and make sure that your electric Volvo stays fresh. The Range Assistant app is a great example of how quick development and deployment of new features can improve the Volvo customer experience every day,” said Sanela Ibrovic, the head of connected car experience at Volvo.

    The app gives the driver an accurate indication of the estimated range remaining on a trip and offers real-time energy consumption data which helps the driver also understand the factors that impact range. The range optimizer app right now is being launched in a beta stage which can also automatically adjust the climate control system.

    Volvo drivers could see increased range improvements from smart battery management and regeneration performance and a smarter timer to precondition the EV battery. Currently, the first car to receive the update is the Volvo XC40 Recharge and this update will also come to the C40 Recharge.

    The update will also come to the Polestar branded cars which will also get the Range Assistant app which includes a new eco climate mode that enhances efficiency and reduces demand on the battery from the climate system.

    The battery preconditioning system is also now linked to the Google Maps app which is embedded in the car as it is based on Android Automotive enabling the driver to know where public charging stations are, destinations, or waypoints – allowing them to optimize for the fastest possible charge times on the road.

  • Renault India Announces Special Offers Across Range For The Festive Season

    Renault India Announces Special Offers Across Range For The Festive Season

    Renault India has announced special offers across its product range right in time for the festive season. These offers include maximum benefits of up to ₹ 1.30 lakh on select variants across the line-up. The company said that the offers can be availed while purchasing a new Renault vehicle during the festive period. The company has introduced the new RXT (O) variant on the Renault Kiger as part of the special offers as well, which is priced from ₹ 7.37 lakh onwards. (ex-showroom).

    The offers also arrive as part of Renault India’s 10th-anniversary celebrations. The automaker will be offering loyalty benefits of up to ₹ 1.10 lakh, which will be over and above the festive offers and benefits. Furthermore, the brand has rolled out 10 unique loyalty rewards to mark its 10 years in India. Other offers include gift vouchers worth ₹ 49,999, which are up for grabs every day.

    The entry-level Renault Kwid comes with benefits up to ₹ 40,000 along with special loyalty benefits of up to ₹   65,000. Customers also get an additional ₹ 10,000 cash offer on select 2020 made cars, and an exchange bonus of ₹ 10,000 under the relive scrappage program.

    The new Renault Kiger, on the other hand, comes with a special loyalty benefit of up to ₹ 95,000, along with a corporate discount of up to ₹ 10,000 or a special offer for rural customers. The popular-selling Renault Triber comes with benefits of up to ₹ 60,000, special loyalty benefits of up to ₹ 75,000, and a ₹ 10,000 bonus under the relive scrappage program. The Renault Duster gets maximum benefits of up to ₹ 1.30 lakh along with special loyalty benefits of up to ₹ 1.10 lakh and ₹ 10,000 worth of exchange benefits under the relive program. All models across the line-up get the buy now, pay in 2022 offer as well.

    More recently, Renault also announced that the Kiger subcompact SUV is the most fuel-efficient offering in its class with an ARAI-certified figure of 20.5 kmpl. This is for the 1.0-liter turbocharged petrol version of the car that packs 99 bhp and 160 Nm of peak torque. The motor is paired with a 5-speed manual and CVT options.

  • Mercedes dealer reports record loss in Q3

    Mercedes dealer reports record loss in Q3

    Hang Xanh Motors Service JSC (Haxaco), a major Mercedes-Benz dealer in Vietnam, reported a record loss, more than VND33 billion ($1.4 million) in Q3, due to social distancing orders.

    Revenue in Q3 was VND700 billion, down 59 percent compared to the same period last year.

    Social distancing measures applied in Hanoi, Ho Chi Minh City and other localities in this quarter have seriously affected Haxaco and the automobile industry. The company’s two branches in HCMC had to temporarily close in Q3 while another in Hanoi was closed until Sept. 12.

    “This has caused a decline in our sales and services during this period,” the company noted.

    Between January and September, the auto dealer’s revenue was VND3.4 trillion, down 9 percent over the same period, equivalent to 35 percent of this year’s business plan.

    However, profit dropped by 45 percent to VND44 billion.

    Despite the revenue decline, the company retains a positive forecast for the last quarter of this year. It has thoroughly prepared to resume operations in the new normalcy, with all employees fully vaccinated to ensure operational safety.

    Previously, in the annual meeting at the beginning of the year, the company set a business plan for 2021 with a net profit of VND126 billion.