NEW DELHI: CNBC India and Auto Car have announced the winners of the second CNBC Auto Car Auto Awards, the Oscars of the Indian automobile industry.

At a fast paced, glitzy event in New Delhi, Mahindra & Mahindra's Scorpio was awarded the Car of the Year 2003 the most coveted trophy of the evening, signaling the coming of age of the utility vehicle segment in India.

Other awards given away were

Manufacturer of the Year: Hyundai Motors India

Best Value for Money Car of the Year: Tata Indigo

Most Technologically advanced car of the Year: Mercedes-Benz E 240

Best Design and Styling of the Year: Opel Vectra

Best Drivers' car of the Year: Mercedes-Benz E 240

Most Improved Car of the Year: Hyundai Accent CRDi

CEO CNBC India Haresh Chawla said, 'The Indian automobile industry is going through a very visible transition. And it is best manifested in the improved quality of passenger vehicles being introduced across all segments. The CNBC Auto Car Auto Awards is an effort to create a credible platform to recognise the efforts of the auto manufacturers and also provide an indicative parameter to the consumer."

New models of passenger cars introduced in the year 2002 were eligible for the CNBC Auto Car Auto Awards. The CNBC Autocar Auto awards were presented by Goodyear India in association with HDFC Bank- Car Loans and Exide.