Tata Motors’ parent Tata Sons and Citigroup’s Mauritius investment arm, which mainly operates through the PN route, were the top buyers in the 5.34% stake sold by Daimler in Tata Motors. Daimler in a media statement on Tuesday said that it is in an excellent position to capitalise on the growth potential of the Indian auto market. Join discussion...

Hyundai Motor India Ltd. (HMIL), the second largest car manufacturer and the largest passenger car exporter, in a bid to provide convenient finance options for its customers, signed a Memorandum of Understanding (MoU) with UCO Bank, one of the fastest growing nationalized banks in the country. The MoU was signed by Mr. Arvind Saxena, Director, Marketing and Sales, HMIL and Mr. S K Dey Purkayastha, General Manager, Retail Banking and Corporate Communication, UCO Bank on behalf of their respective organisation. Join discussion...

German carmaker Daimler is selling its entire stake in India’s Tata Motors for up to $429 million, sources familiar with the matter said on Monday. Daimler was offering 25.6 million shares in India’s largest vehicle maker at 737.4 rupees to 761.3 rupees each, a discount of 4 percent to 7 percent below the stock’s Monday close of 796.75 rupees, sources said. Join discussion...

Mahindra and Mahindra, the maker of tractors and utility vehicles, whose foray into the car market in a joint venture with Renault has been marred by public spats over management control, has started calling back some of its top executives in the JV, a clear indication that the agreement with the French company could be nearing an end. Join discussion...

Car Manufacturer Honda Siel Cars India on Monday launched a select edition of Honda’s small car, the Honda Jazz. The new car has been priced at Rs 7.21 lakh (ex-showroom, Delhi). Honda Jazz was ruled to be the ‘Car of the Year’ and ‘Small Car of the Year’ at the NDTV Profit, Car India and Bike India Awards 2010. Join discussion...

Ford Motors Co. had started working on the small car, Figo in 2007 and the global unveiling was done in September last year. Ford India launched the Figo today in both petrol and diesel versions. Currently small cars account for over 72 per cent of the 1.22 million units sold in India. The Figo is based on the 'B' platform of cars which is Ford's new generation platform for small to mid-size cars around the world. Join discussion...

MUMBAI: Tata Motors on Monday said the auto industry is likely to hike prices of vehicles in April, as it will not be able to absorb the extra cost in meeting Euro-IV fuel emission norms. Join discussion...

Ford has finally announced the price details of Figo. Join discussion...

Bernie Ecclestone has urged the Indian press and public to give Karun Chandhok time to settle into Formula 1 and get up to speed. Chandhok completed an eleventh hour deal with the new Hispania team, but will go to the Bahrain Grand Prix without any pre-season testing mileage. Join discussion...

Triggering speculation about the Japanese firm’s intentions for its Indian subsidiary, Suzuki Motor Corp has raised its stake in Maruti Suzuki to 55 per cent. The step may be part of a larger plan to take complete control of the country’s top car manufacturer. Join discussion...