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Your Daily Automobile updates From Around The World [img]  [Learn more about RevenueStripe...]( [img]( [The Automobile News]( [ETAuto Exclusive: A chunk of senior executives opting for VRS at Honda Cars?]( One of the most aspirational mass-market car brands, Honda had already been facing shrinking sales in India which is hit harder due to the pandemic. The company known for its strong HR policies has recently rolled out a Voluntary Retirement Scheme (VRS). According to sources a large number of senior and mid-level executives have opted for the scheme. The carmaker is providing them salary of 12 to 15 months along with assistance from an HR firm to secure them alternate jobs. New Delhi: A good number of senior executives are going out of Japanese carmaker Honda Cars India under the Voluntary Retirement Scheme or VRS, initiated by the company, which has seen several key functionaries leaving the entity pointing to a grim scenario as the entire automobile industry grapples with some extremely tough market conditions. Honda Cars India, the wholly-owned subsidiary of Japanese Honda Motor Company first time rolled out VRS scheme in January 2020 for plant workers. Sources suggest in the fresh VRS scheme some senior executives in the critical functions like marketing, sales, dealer-development, human resource and quality are opting for the scheme. Honda’s key executive list doing the rounds includes key functionaries like Sunil Gambhir in the Business Development/Corporate Affairs, Tanuj Singh Sandhu in dealer development department are other names in the fast stretching list of exits. Earlier in March, Honda Cars also announced restructuring where Rajiv Gupta, VP sales and marketing and Anil Baveja, General Manager, Marketing & Strategy were moved out from day to day activities and Kunal Behl took over as national sales and networks head. This is the second VRS by Honda Car India in 2020 after it had launched employee exit options for its associates from the workforce in January earlier this year In a long drawn exercise where the company know for being top heavy is reportedly targeting around 80-odd executives in the ongoing VRS to leave or exit the company rolls, the list extends to many senior executives who had spent decades with Honda and few almost from the inception. Honda operating the car making subsidiary since 1995 has been one of the most successful carmakers in the market with especially its City sedan; currently running into fifth generations and has been a blockbuster product and a leader for long in its segment. The Civic in its earlier avatar was an extremely aspiration and successful car, but the current generation has failed to live up to the expectation and revive similar fairings. The company has been facing reverses with its lopsided strategy of targeting the premium segment and then shifting to the mass market with small cars and hatchback and reverting into premium stay with the return of its Civic after a long hiatus and the CR-V now strapped with diesel for the first time. All these have failed to make the desired dent in the Indian market and the struggle for Honda has only intensified despite the fact that it developed and introduced some diesel engines especially for India. Now the exodus raises questions over the viability of its business in India where its sales are only sliding and making it tougher with each passing month. In the latest month, July sales dipped 47 percent to 5,383 units which were substantially higher than most peers and rival carmakers. It would be interesting to watch how does Honda Cars’ story unfold in India. Auto industry veterans say Honda’s cost-cutting drive comes at a time when it ideally should be vying for new ideas to generate sales and improve its hugely idle production capacity. The VRS is nothing new in the Indian automobile industry that has taken these measures to underscore the cyclical nature of the market with a highly fluctuating demand and production. Virtually every brand in the market has taken measures to arrest the downward cycles, but over the years a consistent growth and maturing market have prevented the use of pink slips and VRS that normally backfires. In today’s scenario, amid the ongoing Covid pandemic the market is witnessing harsh times with only segment leaders gaining from the recovery and Honda has not been able to capitalise on its brand power and technological edge. The voluntary scheme was for associates over 40 years of age or who have completed 5 years of service While the exact number of the exit could not be ascertained till the time of loading the story, the company in an emailed response said, ““We had rolled out a Voluntary Retirement Scheme for the office associates which aimed to provide a win-win situation for the associates in terms of the overall benefits as well as the company to be able to enhance efficiency in operations, given the current market demand and industry forecast. The voluntary scheme was for associates over 40 years of age or who have completed 5 years of service. We cannot share the specific details, but being an employer based on trust, the scheme focused on welfare of our associates and the benefits were among the best in the industry to help them explore new dimensions in their life & career smoothly. It not only offered financial and health security but associates are also being provided support from internationally acclaimed HR firms towards a smooth career transition.” On the questions of the future of Honda Car India and the impact of the recent exits, the company added, “The VRS was offered after careful consideration that it will not impact any of our business activities and will help us increase our operational efficiency.” The company said that the previous VRS in January was for factory associates and was very well received. Honda Car India Limited has rolled out a VRS for its associates who are above the age of 40 years or have completed five years of service with the company. Amid the ongoing process, many of its (HCI) departments will become very lean staff to keep it going in both the head office and the zonal offices. [Read more…]( [Read Full Story]( [Auto Buyers Will Soon Have More Brand Choices Than at Any Time Since World War II]( Many of the new brands in the U.S. are EV makers, but not all. Lucid Motors, a California-based EV maker, plans to unveil its first production model during a web event next month, the Lucid Air set to go on sale during the coming model year. The startup is just one of a long list of new brands hoping to crack the U.S. market during the next several years, a list that also includes the likes of Fisker, Lordstown Motors, Faraday Future, Bollinger, Vantas, BYD, Great Wall and others. The U.S. automotive market has long been a relatively closed club. While a handful of new brands have pried open the door in the past half century, far more have either shut down or walked away. But if even a fraction of these new entrants actually makes it into showrooms American buyers will soon have more brands to choose from than at any time since World War II. Automakers “have always wanted to get into the U.S. It’s a coveted market,” said Stephanie Brinley, principal automotive analyst with IHS Markit. “It’s a difficult market to get into, but not impossible (though) it takes a lot of volume to be profitable.” During the past 120 years, the U.S. has seen more than 800 brands come and – most of them – go, according to the archives of the Henry Ford museum in Dearborn, Michigan. The vast majority of them popped up during the industry’s pioneering days, names like Chalmers, Maxwell and Duesenberg. The Depression wiped out hundreds of them. Others, such as Studebaker and Packard, struggled on through World War II but couldn’t generate the economies of scale needed in an increasingly costly business and were gone by the 1960s. The post-War period did see the arrival of a new wave of import brands, including European marques such as Renault, Volkswagen, BMW and Mercedes-Benz, as well as Japanese players like Toyota, Honda and Nissan. Even among them, many struggled. The 1990s kicked off a new exodus, names like Renault, Peugeot, Fiat, Daihatsu and Suzuki falling by the wayside. Detroit’s Big Three, meanwhile, have pared back. Ford dropped Mercury and the short-lived Merkur, while Chrysler – in its various incarnations – abandoned names such as Plymouth and Eagle. And, following its bankruptcy a decade ago, General Motors pulled the plug on Hummer, Pontiac, Saturn and Saab. It’s not that there haven’t been plenty of wannabes. After World War II, industrial magnate Henry Kaiser hoped to launch his own brand, announcing at an industry confab he was ready to back it up with a $100 million investment. “Give that man one white chip,” responded GM’s then president. Kaiser didn’t last long, nor did Malcolm Bricklin, who tried to launch his own brand in the 1970s. But some things have changed and the door appears to be open wider than it has been in years. The nascent shift from internal combustion to electric power is offering significant opportunity, especially for companies hoping to ride the coattails of Tesla. Up-and-coming EV makers can only hope to enjoy a fraction of the recent success of the California-based automaker, currently the most value car company – measured by market capitalization – in the world. Ignoring a slew of naysayer – in fact, mocking a great many of them – the company has broken from the pack, notably Fisker which debuted at the same time and were largely seen as rivals, to become the biggest seller of electric vehicles in the U.S. — and the world. After starting with a small roadster with limited range, the company now offers four models, with a next-edition roadster in the works as well as a pickup truck and a semi truck on the horizon. It’s growth has been rocket-like in recent months, prompting the company to announce a five-for-one stock split in an attempt to make the shares “more affordable for employees and investors.” Not including Tesla, the list of EV startups is a long one, with some of the most promising thought to be Lucid, Detroit’s Rivian and Nikola. The latter firm took advantage of the latest means of raising lots of money fast, a “special purpose acquisition company,” also known as a “blank-check company,” allowing it to quickly list on a stock exchange. Fisker and Lordstown plan to use that strategy, as well, later this year. How many of these EV entrepreneurs will make it is far from certain, and the road to market is already littered with fallen brands such as AMP and Bright Automotive, while others, such as Faraday Future, are barely holding on. “The jury is still out on the new electrics,” said Brinley. “They’ve got a long way to go before we know if they really will be a presence.” Part of the challenge is that EVs currently account for barely 1% of the U.S. market. While many experts are forecasting a big surge this decade, that remains to be proven out and the start-ups will have to face down not only Tesla but the established automakers who are investing tens of billions each year in new electric models. [Read more…]( [Read Full Story]( [The Best Road-Legal Track Cars On Sale Today]( Occasionally, car manufacturers will make something that’s so outrageous, we can’t help but wonder how their creation is road-legal. We all love hitting the race circuit. Whether its to release stress, socialize, or to put your skills to the limit, every car enthusiast loves a good track-day. Car manufacturers have realized this and over the last few years, they have invested billions into the track-day car industry trying to find the balance between legality and performance. Some car manufacturers build a car specifically to do the job whilst most take an existing car and spice it up. Here are some of the best road-legal track-day cars on sale today all of which want to put a beaming ear-to-ear smile on your face. 10 Porsche 718 GT4 The Porsche 718 GT4 is an absolute track-weapon. This pocket-rocket features a mid-mounted naturally aspirated Flat-6 under the hood pushing 414hp and 310 lb-ft of torque. The car will thrust to 60 in 4.4 seconds and flat out do 189mph. It is a true track car with a precise 6-speed manual gearbox. The 718 GT4 is an extremely balanced car that can devour corners all day long. The car drives like a go-cart and its sporty mid-engine RWD recipe makes it competitive against the 911. Porsche employees follow a strict code of conduct which probably explains why the 718 GT4 is so well-built. Easily one of the best track-day cars right now. 9 McLaren 765LT When it comes to the track, McLaren is serious. The 720S was already good round the circuits but McLaren wanted to push the boat further with the new 765LT. The 765LT is based on the 720S, but its more powerful, lighter, and more aerodynamics. Under the hood is a 4.0 twin-turbo V8 pushing 755hp and 590 lb-ft of torque. This beast will crack 60 in 2.7 seconds before topping out at 205 mph. It produces 25% more downforce than the standard 720S, by using specially designed parts such as the spoiler, diffuser, and splitter. This car is extremely hardcore and only 765 will be built by McLaren. A completely insane car. There are lots to know about McLaren but one thing we all know is they are dominating the supercar world. 8 Chevrolet Camaro ZL1 1LE The Camaro ZL1 1LE is an absolute animal. It’s the best muscle car to buy right now and it completely shatters its competitors. Under the hood is a 6.2 liter supercharged V8 fresh from C7 Z06. It pushes 650hp and 650 lb-ft of torque. It shoots to 60 in 3.5 seconds before topping out at 198 mph. This car isn’t just fast around the straights though. With its aerodynamic body kit, it cracked a Nürburgring time of 7:16:04 which is absurd. The car is so lethal that it’s banned from Europe. A car that will scare you on the road and on the race circuits so you better be awake when driving or else. 7 Ford GT The Ford GT is a race-car for the road essentially. This car is a serious car considering how many rules one must follow to own one. Under the hood is a 3.5 twin-turbo V6 pushing 660hp and 550lb-ft of torque. The GT will shoot to 60 in 3 seconds before topping out at 216mph. The GT is a serious track car with crazy aerodynamics and a super-low center of gravity. It is an extremely special Ford and one that enthusiasts absolutely adore. The car even has a track-mode where it will sharpen the throttle and lower the suspension. The spoiler acts as an air-brake when breaking making this car seriously fast. [Read more…]( [Read Full Story]( ------------------ You Might Like [Learn more about RevenueStripe...](        ------------------ Connect with TheAutomobileNews on Facebook and Twitter [fb](  [tw]( ------------------ You received this email because you operate or create content for a website/service and based on your website it seemed like this could be important information to you and your users. Want to change how you receive these emails? [Update your preferences]( or [Unsubscribe](