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 […]
Bridgestone India is all set to invites applications for the 2nd edition of the ‘Bridgestone Mobility Social Impact Awards’ 2022. Through these awards the company aims to identify, recognise and promote sustainable mobility innovations from advanced technologies and solutions for social enhancement by not-for-profit organisations. The three key leading areas for Mobility Social Impact Awards […]
The product development life cycle is going through a sea of change. Gone are the days when OEMs would be able to launch just a couple of products in a year and still attain growth. India is now the world’s fourth-largest automotive market and the customers today want the best of all worlds but at […]
Electric mobility may have been catching up in the two- and three-wheeler space in India. But electric bicycles can also play a big role in making green mobility accessible and make customers switch over to clean vehicles easily. But one of the challenges for the industry has been the current generation of lithium-ion batteries used […]
Chinese SUV maker Great Wall Motors is set to abandon its businesses in India as it prepares to hit the road to Brazil, where the company has pledged to invest Rs 15,790 crore. The company has reportedly laid off its employees deployed at its headquarters in India. The 11 employees have been given pink slips, […]
Car major Ford India has increased the equivalent average days in its severance package offer from the earlier 115 days to 121 days for employees who are supporting production at the Chennai plant, in a bid to ensure timely settlement for all employees by July 31. The company has requested the workers’ union to engage […]