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...

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...

India’s Karun Chandhok will partner Brazilian Bruno Senna, nephew of the late Ayrton, at Hispania for the 2010 Formula One season, the Spanish team announced on Thursday. The team director Colin Kolles confirmed that the driver’s team line-up was now complete with the Indian Karun Chandhok all set at the wheel of the car for their first ever season. Join discussion...

February was the best in the car industry. Buyers flocked into showrooms to get cars for themselves. The budget was to be announced in a short while and people feared the rise in prices. Everyone got their share of profit. Car buyers to the makers, everyone was delighted. The year began on a happy note. Here’s a note on the top 10 cars as of January 2010. Oh yes, when I say ‘top 10’, I mean the highest selling cars. The home-grown hatchback, Maruti Suzuki Alto with its innovative design and supreme performance bags the first place. The car is perfect for an average Indian family. Join discussion...

Mitsubishi has brought forth yet another facelift of Outlander and the front, keeping in sync with the car’s character, looks really aggressive and masculine. The Outlander has got the snout from the EVO X and it has certainly added an interesting dimension to its design. A host of improvements on Outlander’s exterior style language have the capacity to please anyone’s visual senses. Join discussion...

Ford India has recently announced that it will launch its compact car Figo, which is colloquial Italian for “cool”, in the second week of March 2010. Ford Figo will be launched in petrol and diesel versions and will have four variants. The petrol Ford Figo will have a four-cylinder 1.2 litre, 16 valve Duratec engine that will give a maximum power of 70 bhp at 6,250 rpm and maximum torque of 102 nm at 4,000 rpm. Join discussion...

Tata Motors saw a 58-per cent growth in sales in February due to the revival in the commercial vehicles market and its expanding passenger car portfolio. The company registered vehicle sales at 69,427 units, up from 43,811 units last February. It has sold 5.67 lakh units so far this fiscal, registering a growth of 28 per cent over the same year-ago period. Join discussion...

Jaguar Land Rover turned in a profit of £ 55m in the last three months of 2009 after a loss of £60m in the previous quarter. The company’s owner, India’s Tata Motors, said the bounce back was thanks to stronger market conditions. Tata Motors added that its range of new models had helped its performance. Join discussion...

Thanks to higher customs duties, Toyota Prius, which will debut in India by the end of next month, will now cost Rs. 28 lakh. Toyota Kirloskar Motor (TKM) deputy managing director, Sandeep Singh, said they have 54 orders for the Prius from Indian buyers, after it was shown at the Delhi Auto Expo last month. At that time, its ex showroom price was pegged at Rs. 26.55 lakh. Join discussion...