Capri Global Holdings (CGHL) has acquired 51 percent stake in CarLelo, an online multi-brand new car selling platform for a strategic investment of Rs 150 crore. This the company says reinforces Capri Loans’ position as a key player in the Indian automotive financing market while driving digital transformation and enhancing the consumer experience. Capri Loans […]
Spinny, a used-car retailing platform has shared insights of sales in the first quarter of CY2023. The company says it saw considerable growth in demand for used cars, especially from Tier 1 and Tier 2 cities, of which 65% are first-time car buyers (January 2023 to April 2023) as compared to 60% in 2022. It estimates […]
Automotive tier 1 supplier Uno Minda has announced its results for Q4 and FY2023. The company clocked consolidated revenue of Rs 11,236 crore for FY2023, up 35 percent, as against Rs 8,313 crore a year ago. The EBITDA came at Rs 1,242 crore, up 40 percent and net profit of Rs 654 crore versus Rs […]
In the recently-concluded Financial Express CFO awards, Road Transport Minister, Nitin Gadkari called for decongestion of Indian roads. He said that “India is populated in terms of people and automobiles.” Gadkari has announced plans on building expressways for electric cars, cable cars, and even multi-story flyovers to tackle traffic woes in India, especially in a […]
A strong resilience in the Indian automotive market and focus on premiumisation have helped Apollo Tyres post strong financial results in FY2023. The company has been aggressively pushing its premium European brand Vredestein in the Indian market, which seems to have received a warm response. In Q4 FY2023, the revenues from operations across geographies was […]