The country's largest carmaker Maruti Suzuki reported total sales of 108,064 units in July 2020. This is a growth of 88.2% over June 2020 and a fall of 1.1% over July 2019. This includes domestic sales of 100,000 units and 1,307 units for other OEMs in the domestic market. In addition, the company exported 6,757 units in July 2020.
The top court was earlier irked over the violation of its order and had pulled up the automobile dealers association by saying that the BS-IV vehicles were sold during the lockdown. The bench had on July 8 recalled the March 27 order by which it had allowed sale of BS-IV vehicles for 10 days across India, except in Delhi-NCR, after lifting of the lockdown.
Apollo Tyres Chairman and Managing Director Onkar S Kanwar, however, said the company is still bullish about the economy bouncing back and "did see signs of a recovery in the third quarter, but the fourth quarter witnessed headwinds in the form of the COVID-19 outbreak and the subsequent nation-wide lockdown".
In addition, the directors’ emoluments rose 28.8% in the same period, when total workforces have been lowered to 39,787 in FY20 compared with 44,101 in the previous fiscal.
The coronavirus crisis has exacerbated struggles at the company that had already been battling falling sales in China and southeast Asia, its largest market which accounts for a quarter of its sales.
Functionality, space and comfort -- along with great driving experience and manoeuvrability – has led to more consumers preferring this category, according to industry experts.
DigitAL Nxt comprises i-Alert 3.0, AL Cares and Uptime Solution Centre, the release said adding that it will empower customers to better manage their business and enhance profitability. It would help customers in vehicle tracing and tracking, fuel management, service due reminders and quick reactive support, among others.
The JV firm will leverage combined strengths and cumulative experience of the two companies to innovate, develop and manufacture IoT devices, Amara Raja said in a statement.
EVI's battery swapping solution and RevFin's easy low-cost finance will create a sustainable mobility ecosystem, making clean energy affordable to all without the worry of energy infrastructure, especially in tier 2 and 3 cities, it added. EVI Technologies Founder and CEO Rupesh Kumar said the partnership will provide an easy solution to all challenges.
The government is not in the business of dictating which technology should be used. Tomorrow a new technology might emerge, said Kant while replying to a question.
The company which had planned at least ten new introductions this year in India is also sticking with its plans, although some products may be late due to global supply chain issues. Reiterating that the company's mid-term and long-term perspective on "India is strong and remains unchanged", he said, "We see this (current slowdown) as a temporary setback, we are well advised to continue with our plans we have set out, that includes product launches."
"We are seeing month-on-month improvement in sales. There was no sale in April while the decline was very large in May. June was significantly better than May and July is much better than June," Bajaj Auto CFO Soumen Ray told.
Tested at MSI's Rohtak-based research and development facility, the S-Cross petrol is compliant with advanced safety norms including frontal offset crash, side impact and pedestrian safety. The model would further strengthen the company's position in the premium urban SUV segment, the company claimed.
The company launched Nexa sales network in 2015 to go beyond everyday retail experience. With over 370 showrooms across 200 plus cities, Nexa is the third largest retail automobile brand in terms of volume, MSI said in a statement.
There was a call to collaborate, monitor capacity and take stock of mutual competencies, given the view that organisations were working independently and not pooling resources.
According to Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,230 out of the 1,440 regional transport offices (RTOs), passenger vehicle sales stood at 2,05,011 units in June 2019.
In a regulatory filing on Monday, Steel Strips Wheels Ltd (SSWL) said it "has bagged firm export orders for over 1,45,000 wheels for the US caravan trailer market, to be executed in the month of September with a value of over USD 1.5 million, from its Chennai plant".
Gupta joins Mahindra & Mahindra after spending almost a couple of decades in Tata Motors and Ashok Leyland. The head of small commercial vehicle business, Satindar Singh Bajwa, moves in as head of sales and service .
"We will prioritise simplification, synergies and scale within the Tata Motors family, including working with partners when it makes sense to do so," added the chairman, reiterating his intention of being open to partnerships. Reinforcing the commitment to JLR, the chairman said Jaguar Land Rover remains a key pillar of the wider Tata Group.
Eicher Motors Managing Director Siddhartha Lal said Royal Enfield was witnessing a strong initial customer interest with the gradual easing of the coronavirus-led lockdown.
The auto major, with no diesel vehicles in its line-up, now aims to expand its CNG products range to bring in additional volumes.
Businessman Aniljit Singh said in his complaint that he was sold “substandard” vehicles after misrepresentation of facts on emission. He said he bought the cars in 2016, costing him crores of rupees.
Sharing information with company shareholders, Hero MotoCorp Chairman Pawan Munjal noted that there remains ample growth opportunities for the company in domestic as well international markets. The company's investments in R&D over the past five years have been twice of that of other players in the industry, Munjal noted.
Hinduja Group's flagship firm Ashok Leyland on Saturday said former Aston Martin CEO Andrew Palmer has been appointed as non-executive chairman of its British arm Optare Plc.
Companies readying to scale up to pre-Covid levels as they start launching models or upgrades are having to grapple with frequent off-and-on local restrictions.
Powered by a new 999 cc four cylinder in-line engine, the BWM S 1000 XR, delivers an output of 165 hp at 11,000 rpm and the motorcycle sprints from 0-100 km/hr in just 3.3 seconds and can achieve a top speed of over 200 km/hr, BMW Motorrad said.
Toyota Kirloskar Motor (TKM) on Wednesday said it is recalling around 6,500 units of its premium hatchback Glanza in order to replace faulty fuel pumps.
The new trim, Rapid Rider Plus comes powered with BSVI-compliant one-litre petrol engine which delivers a power output of 110 PS. The company recently introduced the new Rapid TSI range of products that comes with 1.0 TSI petrol engine, Skoda Auto India Brand Director Zac Hollis said in a statement.
The company is voluntarily undertaking a recall for WagonR (1 litre) manufactured between November 15, 2018, and October 15, 2019, and Baleno (petrol) manufactured between January 8, 2019, and November 4, 2019, MSI said in a regulatory filing. The recall will cover 1,34,885 vehicles of both these models, Maruti Suzuki said.
The purchase is also among the costliest in the country on a per sq. ft. basis, with Jain having paid almost Rs 1.57 lakh per sq. ft. for the apartments. Each apartment has an area of over 3,185 sq. ft. and Jain gets access to eight car parking slots.