Sunday, 26 January 2020

Maruti Suzuki launches sports variant of Ciaz sedan

The country’s largest carmaker Maruti Suzuki India has launched Ciaz S, the sports variant of its premium mid-sized sedan Ciaz, priced at ₹10.08 lakh (ex-showroom Delhi).

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The company also said it has introduced BS 6 compliant Ciaz priced between ₹8.31 lakh and ₹11.09 lakh. This will be its 11th offering complying with the stricter emission norm, ahead of its implementation from April 1.

“With over 2.7 lakh happy customers and record 29 per cent market share in its segment, Ciaz is popular for its impactful exteriors, sophisticated interiors and strong performance. There was a latent need from our sedan loving customers for a Sporty version of Ciaz,” Maruti Suzuki India Executive Director (Marketing & Sales) Shashank Srivastava said in a statement.

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Ciaz S fulfills that need and it adds a sporty quotient to the premium mid-size sedan, appealing to the customers desiring ‘the good life’, he added.

Ciaz S comes with signature dual-tone sporty exteriors and intense black accentuations on side and rear underbody spoilers, trunk lid spoiler, ORVM cover, and front fog lamp garnish, the company said. It also has multi-spoke 16-inch alloy wheels in the coordinated dark finish.

 

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Govt to sell 100% stake in Air India, issues bid document

The government has invited an Expression of Interest (EoI) from potential investors for buying 100 percent of Air India and its stake in two subsidiaries, significantly relaxing bidding norms in terms of debt and eligibility, in its latest attempt to privatise the debt-laden state-run airline.

Group of Ministers approves EOI for Air India divestment

The deadline for submission of EoI for 100 percent divestment in Air India and the airline’s stake in low-cost unit Air India Express and airport services company AISATS is March 17, according to a preliminary information memorandum issued on Monday.

Air India Express is a wholly-owned subsidiary of Air India. The airline owns 50 percent of AISATS. Individuals and consortia can bid for the airline.

The government has struggled at least twice in the past two years to privatise loss-making Air India due to a lack of interest from bidders. One reason for the failure was that the government was unwilling to fully exit the airline, looking to sell only 76 percent stake.

The huge debts and bloated workforce too have proved to unattractive for potential bidders.

Now, the government has relaxed bidding norms to coax investors to buy the airline.

The bidding consortia will be saddled with only Rs 23,286 crore of the total Rs 60,000-crore debt of Air India. As for eligibility, the lead member of a consortium can have 26 percent shareholding. The earlier criterion set a holding of 51 percent in a consortium.

The minimum shareholding in a consortium has also been eased to 10 percent, potentially enabling more entities to bid as part of a consortium. The net worth for eligible bidders has been relaxed to Rs 3,500 crore from Rs 5,000 crore.

The government has been pumping money and hived off some debt to keep the airline aloft and ready for sale.

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Priyanka Chopra and Nick Jonas on the Grammys 2020 red carpet | See Pics

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No, BJP Leader Inayat Hussain Wasn’t Assaulted for Supporting CAA

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Maruti Suzuki launches sports variant of Ciaz sedan

The country’s largest carmaker Maruti Suzuki India has launched Ciaz S, the sports variant of its premium mid-sized sedan Ciaz, priced at ₹1...