A report in Japan’s Nikkei newspaper about Mitsubishi Motors joining Honda-Nissan Alliance has raised many eyebrows. The tie-up between three major Japanese automakers would mark yet another chapter in the history of automotive industry as their combined sales of vehicles amounts to over eight million units. 

Mitsubishi Motors, in which Nissan has a 34 percent stake, will work with Honda and Nissan to finalise the details of their strategic partnership, the news report has mentioned. Also mentioned in the news report is that the three automakers intend to standardise in-vehicle software that controls cars.

Officials of Mitsubishi Motors and Honda Corporation have not made any formal announcement regarding such a partnership yet. Nissan spokesperson also did not confirm if such a development was under way either. 

Of the three automakers, Nissan – Japan’s third biggest automaker – has been steadily losing market share in its two largest markets, the United States and China. The two respective markets accounted for half its global sales in the year to March 2024. Nissan slashed its annual outlook after heavy discounting in the US that is claimed to have almost completely wiped out its first-quarter profit.

It was in March 2024 that Nissan and Honda announced they were considering a strategic partnership to collaborate on producing electric vehicle components and artificial intelligence in automotive software platforms.

Mitsubishi Motors is already part of a long-standing alliance with Nissan and France's Renault. The three automakers came to an agreement last year to restructure the same. The aim of the alliance restructure is said to be to downsize it, and yet ensure that it is more pragmatic and agile. 

Separate collaboration between Nissan, Honda and Mitsubishi Motors could help Japan's automakers manage costs and participate particularly well in the electric vehicle domain, which is currently being dominated by Chinese manufacturers like BYD. 

Once strong in China, which is the world’s largest auto market, the Japanese automakers have been facing considerable competition from the homegrown Chinese automakers. These automakers have been very agile and increasing their production capacity quite fast. They have also been able to offer lower priced vehicles that are ‘loaded’ with software, making them the most modern perhaps.

Image for representation purpose only.

State Bank of India (SBI) has entered into a strategic partnership with Uber to offer low-cost, tailored financing solutions as well as hassle-free loan disbursement to Uber’s fleet partners.

Both new and current Uber fleet partners will benefit from the partnership, which will enable them to easily grow their businesses and support the continued expansion of the ride-hailing sector in India. Easy loan disbursement will be made possible by the integration, assisting fleets in maintaining peak performance. The partnership guarantees that fleet partners can effectively manage their money and grow their businesses more quickly by utilising SBI's vast financial services network and Uber's technologies.

Vinay M Tonse, MD (Retail Business & Operations), SBI, said, “At SBI, we are committed to offering innovative financial products that support businesses across India. Our partnership with Uber highlights our focus on providing tailored solutions to a diverse set of customers. By offering affordable financing solutions to Uber fleet partners, we are helping to fuel the growth of the ridesharing sector while also ensuring that fleet owners have access to the capital they need to succeed.”

Prabhjeet Singh, President, Uber India & South Asia, said, “This partnership reinforces Uber’s commitment to its fleet partners and aligns with our vision of fostering growth in India’s ride sharing ecosystem. By providing affordable loans through SBI’s customised offerings, we aim to create an enabling environment that provides fleet partners with the tools they need to scale effectively and contribute to the overall development of the industry.”

Toyota Kirloskar Motor, one of the leading passenger vehicle manufacturers, has attained a new wholesales milestone for its Innoa HyCross SUV.

Launched in November 2022, the Innova HyCross has crossed 100,000 unit sales milestone in India. The Innova HyCross is powered by the 5^th Generation self-charging strong hybrid electric system and comes with a 2.0-litre 4-cylinder petrol engine and an e-drive sequential shift delivering 137 kW (186 PS) of power.

The hybrid system the company claims enables the Innova HyCross to operate 60 percent of the time in electric (EV) mode. The 2.0-litre petrol engine paired with a direct shift CVT in select variants, delivers 129 kW (174 PS) of power.

Sabari Manohar, Vice-President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “We are thrilled to share that the Innova HyCross has achieved milestone of 100,000 units. Heartfelt thanks to our customers for their trust and support as we continue to drive unparalleled mobility experiences. The hybrid technology option in the Innova HyCross continues to impress customers with its exceptional performance and remarkable mileage. Beyond efficiency, the HyCross strikes an ideal balance of space and luxury, making it a practical choice tailored to a family’s diverse needs. Its superior handling, unparalleled comfort, and top-notch safety features further amplify its appeal. Combined with Toyota’s trusted service standards, the Innova HyCross delivers a holistic ownership experience that resonates deeply with its growing base of satisfied customers.”

AstaGuru will showcase some of the world’s most coveted vintage and classic cars at its upcoming ‘Classics of Motoring’ auction, which will take place from 20 to 22 November 2024.

The auction will offer an exclusive collection of rare and meticulously curated vintage cars, providing a unique opportunity for collectors and automotive enthusiasts to acquire iconic pieces of automotive history.

The auction will feature an impressive lineup of vehicles, including a 1934 Rolls-Royce 20/25 Limousine, a 1946 Singer Nine Roadster, a 1946 Bentley Mark VI, a 1947 Lincoln Continental V12 Convertible and a 1948 Jaguar Mark IV, among others. These stunning machines, each a testament to the engineering marvels of their era, promise to transport bidders back in time, celebrating the golden age of motoring.

A Growing Market in India

AstaGuru’s Vintage and Classic Car Specialist, Muzammil Kazi, shared his insights on the evolution of the vintage car market in India. “We did our first auction in 2018, and it was a surprising success,” Kazi noted. “At the time, these cars weren’t available online or marketed in the way they are now. You’d have to go to a dealer or connect with a seller directly, which made it hard to find these rare cars. But our first auction was a hit, with all lots selling successfully.”

The vintage car market in India, according to Kazi, is far from saturated. “The market is 100 percent growing. These cars were imported to India in limited quantities, and you wouldn’t find brands like Ford or General Motors here in the same way as abroad. Cars like the Fiat, Ambassador, or old Maruti SS80 were more common, but the rare vintage gems we are showcasing today are difficult to find.”

Kazi also emphasised that the scarcity of such cars means the market still has significant potential for growth. “The cars we have on display today are curated from various collectors across India, and it’s very rare to see them come together in one auction,” he explained.

Safeguarding Online Bidders

AstaGuru’s online auction platform also ensures that bidders are fully protected throughout the process. “We have a strong set of terms and conditions for the cars we sell,” Kazi explained. “We only auction cars with up-to-date paperwork and in proper running condition. Once a car is sold, we ensure the buyer receives it only after the seller submits a No Objection Certificate (NOC), making the transaction smooth and secure.”

Record-Breaking Bids

The auction has seen some impressive bids in the past. Kazi highlighted one of the highest bids to date: a Mercedes-Benz 111 230S, which was estimated at INR 2.1 million but eventually sold for INR 6.8 million. Another standout was a Rolls-Royce, which had an estimated value of INR 7-8 million but sold for a remarkable INR 18 million.

A Rare Opportunity for Collectors

For classic car enthusiasts and connoisseurs, the ‘Classics of Motoring’ auction represents an unmissable opportunity to acquire some of the rarest and most beautifully restored vehicles in the world. With its rich history and pedigree, each car in the auction is a testament to the artistry and engineering excellence that defined its era. Whether a seasoned collector or a newcomer to the world of vintage automobiles, this event promises a truly memorable experience for all involved.

As the vintage car market continues to grow in India, AstaGuru is setting the stage for an exciting future for collectors and car lovers alike. The ‘Classics of Motoring’ auction is expected to draw attention from around the world, offering a rare chance to own a piece of automotive history.

Tata Motors-owned British luxury car brand Jaguar has unveiled its new brand identity, which it says recaptures an ethos to Copy Nothing that traces its roots back to the words of its founder, Sir William Lyons. 

The new identify is based on Exuberant Modernism, a creative philosophy, which the company says underpins all aspects of the new Jaguar brand world. 

Professor Gerry McGovern OBE, Chief Creative Officer, Jaguar, said, “Jaguar has its roots in originality. Sir William Lyons, our founder, believed that ‘A Jaguar should be a copy of nothing’. Our vision for Jaguar today is informed by this philosophy.  New Jaguar is a brand built around Exuberant Modernism. It is imaginative, bold and artistic at every touchpoint. It is unique and fearless. This is a reimagining that recaptures the essence of Jaguar, returning it to the values that once made it so loved, but making it relevant for a contemporary audience. We are creating Jaguar for the future, restoring its status as a brand that enriches the lives of our clients and the Jaguar community.”

The four symbols of change – Device Mark, Strikethrough, Exuberant Colours and Makers Marks - each representing the future design philosophy for the luxury carmaker.

Device Mark celebrates modernism through the geometric form, symmetry and simplicity.

Strikethrough sees the linear graphic generate a unique presence and an immediately recognisable visual for Jaguar.

The Exuberant use of colours marks a cornerstone of Jaguar’s new brand identity.

Makers Mark consists of the newly reimagined Jaguar ‘leaper’, which the luxury brand said is part of its mark of provenance. 

On 2 December 2024, Jaguar will present its first global public installation under its new brand philosophy at the Miami Art Week.

Rawdon Glover, Managing Director, Jaguar, said, “To bring back such a globally renowned brand we had to be fearless. Jaguar was always at its best when challenging convention. That ethos is seen in our new brand identity today and will be further revealed over the coming months. This is a complete reset. Jaguar is transformed to reclaim its originality and inspire a new generation. I am excited for the world to finally see Jaguar.”