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A Great Offer or A Raw Deal?
Festival season is also when vehicles manufactured before and during the monsoon season end up in the market, and if you are not careful, you could end up with wheels that have been in transit or lying out in the open, for months
Festival season is a great time for manufacturers when they hope to move maximum stock which is why they offer a variety of ‘schemes’. Festival season is also when motor vehicles manufactured before and during the monsoon season end up in the market, and if you are not careful, you could end up with wheels that have been in transit or lying out in the open, for months. 
Recently, we were out looking for a new car, and got an almost unbelievable deal from a top global manufacturer. This is a manufacturer who keeps talking about the strong West European heritage and technical attributes. They have also been talking a lot about improving their well-deserved, but rather unfortunate, infamy in after-sales and service. 
A ‘new’ vehicle is one that is no more than 30 days old from its date of manufacture, add a maximum of 15 days for transportation. So anything that came off the shop-floor before 30-45 days is to be considered ‘stale’. Unfortunately, manufacturers and dealers try their best to move ‘stale’ stock, by hook or by crook, to unwary customers. 
For customers who buy vehicles regularly, like fleet operators, finding out whether a vehicle is ‘new’ or ‘stale’ is very easy. They score huge discounts on ‘stale’ vehicles and that too only after intensive inspections and bargaining at every step. For the average customer, however, it is easy to get tricked; so here are some points to consider: 
• Buying a new colour is one way of ensuring you get a ‘new’ car. This does not happen frequently though. 
• Try not to buy anything manufactured just before, or during, the monsoons. 
• Look for the VIN (vehicle identification number) you will find it at various places—on the car’s documents, under the bonnet, on a sticker in more than one window and stamped on the chassis in a visible place—usually next to the engine. You can then decode the VIN using any number of online tools and know the month and year of manufacture. 
• Ask for and take a copy of the excise gate pass for the specific vehicle. 
• Look carefully at the tyres and try to spot the manufacturer’s code; take a photo; and ask your tyre shop to let you know when the tyres were made. Anything over 75-90 days is not acceptable. 
• Take a photograph with flash along the sides of the vehicle as well as on other flat surfaces, this is when high resolution helps; then expand on your monitor to look for weather- and age-related imperfections. 
• Remove the rear seat and look for possible corrosion under it. Likewise, front floorboard under the foot-pedals and on the passenger side. 
Remember, if the ‘deal’ or ‘scheme’ during the festival season looks too good to be true, then it is probably hiding something.

Petrol Car Sales May Revive

The pendulum appears to be rapidly shifting towards petrol cars again, especially if the price differential between the two fuel options keeps reducing and you account for ownership cost. Diesel engines are inherently more complicated than petrol engines, therefore, spare parts as well as consumables for engine maintenance cost more.
There is, however, something to be said about the ‘grunt’ and sheer torque pumped out by diesel engines,  especially in low RPM city driving. Add to that better efficiency per litre, especially in traffic jams. When all you need is an air-conditioner with wheels, there is nothing that beats a diesel car hatchback.  
Yet, my next car is likely to be petrol-operated and there will be many choices soon.
(Veeresh Malik started and sold a couple of companies, is now back to his first love—writing. He is also involved in helping small and midsize family-run businesses re-invent themselves.)




3 years ago

Thanks but where does it say that the car being sold to me has to be one manufactured within the last 45 days?

Would be grateful for the advice because I have just placed order for my new car and do not wish to be taken for a ride.

Sensex, Nifty likely to rally – Wednesday closing report

Nifty to stay above 7,875 for realising some gains


We had mentioned in Tuesday’s closing report that S&P BSE Sensex and NSE’s CNX Nifty are oversold but the market would rally only if Nifty goes above 7,930. On Wednesday, the market was in the positive territory till 11.30am, after which it started drifting lower. During the post-noon session, it went lower, until a late buying pulled the indices back near the day’s highs. This was met with some selling and both the benchmark indices closed near the day’s lows.

Sensex opened at 26,230 while Nifty opened at 7,829. The benchmarks hit their intra-day high at the beginning of the session at 26,338 and 7,870. The indices hit their lows at 26,150 and 7,816. Sensex closed at 26,247 (down 25 points or 0.10%), while Nifty closed at 7,843 (down 10 points or 0.12%). NSE recorded a volume of 73.39 crore shares. India VIX fell 2.42% to close at 14.1125.

Among the other indices on the NSE, the top five gainers were PSE (1.61%), Energy (1.56%), Realty (1.50%), PSU Bank (1.35%) and Commodities (1.31%), while the top five losers were Pharma (3.43%), IT (3.37%), Service (0.67%), MNC (0.52%) and Smallcap (0.24%).

Of the 50 stocks on the Nifty, 31 ended in the green. The top five gainers were DLF (4.80%), IndusInd Bank (4.58%), Tata Steel (3.83%), BPCL (3.72%) and Bhel (2.81%). The top five losers were Tech Mahindra (4.74%), Infosys (4.73%), Dr Reddy (4.49%), Wipro (4.45%) and Sun Pharma (4.24%).

Of the 1,596 companies on the NSE, 670 companies closed in the green, 863 companies closed in the red while 63 companies closed flat.

The International Monetary Fund (IMF) on 7 October 2014 raised India's growth forecast to 5.6% for 2014 from its earlier estimate of 5.4% on the back of effective policies and a renewal of confidence, following the elections. However, it cut the global growth forecast and that for emerging market economies as a whole. The world economy will grow 3.8% in 2015, compared with a July forecast for 4%, after a 3.3% expansion in 2014, compared with a July forecast for 3.4%, the Washington-based IMF said.

The finance ministry and the Reserve Bank of India (RBI) are supposed to finalise a new monetary policy framework by December end under which the central bank will pursue the retail inflation target to be decided by the government. Under the new framework, the interest rate will be decided by a monetary policy committee with a view to ensure that inflation remains within the targeted levels.

Coal India divestment process should begin immediately after the Diwali, Manoj Joshi, joint secretary of financial markets, in the Finance Ministry, said on Wednesday. The Central government wants to sell a 10% stake in the state-owned company this fiscal year ending March 31, as part of many divestments aimed at bolstering its stressed finances.

Crude oil prices dropped sharply today. Lower crude oil prices could reduce under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. Indian Oil Corp (6.99%) was among the top two gainers in the ‘A’ group on the BSE.

Natco Pharma (6.96%) was the top loser in ‘A’ group on the BSE. It filed its shareholding pattern for September 2014 quarter.

L&T Technology Services, the wholly owned subsidiary of L&T group today announced the intent to acquire the assets of US-based Dell Product and Process Innovation Services (formerly eServ), the engineering services division of Dell. The closure of transaction is expected around this quarter, subject to certain regulatory approvals. It added that the Competition Commission of India has approved the proposed transaction. The company is awaiting US regulatory approvals which are expected shortly. L&T (2.32%) was among the top two gainers in the Sensex 30 pack.


Infosys (4.70%) was the top loser in the Sensex 30 stock even though Citigroup downgraded the stock to "neutral" from "buy."

US indices closed lower on Tuesday. The US Federal Reserve will release the minutes of its September 16-17 meeting on 8 October 2014.


Except for Shanghai Composite (0.80%), KLSE Composite (0.17%) and NZSE 50 (0.19%) all the other Asian indices closed in the red. Jakarta Composite (1.48%) was the top loser.

The HSBC China services Purchasing Managers Index edged down to 53.5 in September, after recording a 17-month high of 54.1 in August, HSBC Holdings PLC today, 8 October said. A reading above 50 indicates a month-on-month expansion while below points to contraction.

European indices were trading in the red while US Futures were trading in the green.


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