VW budget brand to launch in 2016
Volkswagen's new budget brand will be approved by the company's board this summer, according to reports in the German media.
The project has long proved difficult for VW, as it has struggled to meet its internal minimum standards for manufacturing while still meeting the budget constraints. As a result, there has been no sound business case for building the car or investing in the infrastructure to launch a new brand, which would be the VW Group's 13th.
However, the project is now reported to have reached a point where it can be submitted for board approval. Once received, the car would be ready for production by late 2016 or early 2017, according to the reports.
S. Africa seeks tie-ups with Indian auto companies
South Africa is pitching its burgeoning auto-component manufacturing industry to Indian automakers for partnerships.
Accompanied by a delegation of 27 companies, Elizabeth Thabethe, the country’s Deputy Minister of Trade and Industry, met Indian companies in a trade summit facilitated by the Southern India Chamber of Commerce and Industry.
She said the country has been integrating its automotive supply chain through partnerships with Japan and Germany over the last decade.
Al-Futtaim Acquires Major Shares In Kenyan Automobile Business
Dubai’s Al-Futtaim Group now holds majority shares in Kenyan automobile retailer, CMC Holdings Limited after 91 percent shareholders accepted its 7.6 billion shilling ($87.91 million) offer for its 533 million shares.
CMC, which distributes Ford, Mazda, Suzuki and Volkswagen vehicles among other brands is a key player in East Africa automotive industry. The successful acquisition of the CMC group represents Dubai-based Al-Futtaim’s first venture into the sub-Saharan and Eastern Africa regions.
17th Auto expo Africa 2014 to be held in Nairobi
The three-day automobile extravaganza – AUTO EXPO AFRICA – KENYA 2014 - which is being organized jointly by Expo group and Expo link Exhibitions & Publications Limited (Kenya) will be held at The Kenyatta International Conference Centre from 27 – 29 April. Auto enthusiasts and potential buyers will get an opportunity to witness the Auto Aftermarket as well as view vehicles on display. Neville  Trindade,  Exhibition Manager  of  Expogroup, had  this  to  say,  "This  time  around the experience is going to be unique for participants, and auto enthusiasts. For the first time, we will be providing an area for spare parts display.
