Passenger vehicle sales in the country plunged 78.43 per cent in the April-June period Published: December 20, 2020 17:59 PTI Companies like Mahindra & Mahindra are optimistic that a positive monsoon, strong rural demand and the availability of finance are all indicators of a good economic recovery and buoyant demand, going forward. Image Credit: Supplied
Having endured and managed to recover from the disruptions induced by a once-in-a-century event, the Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world, although a lot will hinge on how the economy grows.
Already battered by an unprecedented slowdown before the coronavirus pandemic, the resilience of the Indian auto industry was tested severely when the nationwide lockdown was announced towards March-end.
HNB last week announced the commencement of multiple long-term finance facilities totalling Rs. 8.5 billion for Hayleys PLC and Group subsidiaries.
The agreement was facilitated by HNB’s Corporate Banking Division managing the banking needs of most of the largest blue chip corporates & conglomerates in the country, a news release on the arrangement said..
The signing ceremony was attended by Hayleys Group Executive Director Sarath Ganegoda, Hayleys Group Chief Financial Officer Choliya De Silva, Head of Group Treasury Malin Fernando, together with HNB Deputy General Manager Wholesale Banking Group, Damith Pallewatte, HNB Assistant General Manager Corporate Banking, Majella Rodrigo, HNB Senior Manager Corporate Banking Manojith Weerasuriya and HNB Relationship Manager, Samindhi Kurukulasuriya.
Having endured and managed to recover from the disruptions induced by a once-in-a-century event, the Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world, although a lot will hinge on how the economy grows. Already battered by an unprecedented slowdown before the coronavirus pandemic, the resilience of the Indian auto industry was tested severely when the nationwide lockdown was announced towards March-end. Passenger vehicle sales in India, the barometer of the automobile industry s performance, plunged 78.43 per cent in the April-June period this year hit by the pandemic, declining for the ninth straight quarter and making it the longest slowdown in 20 years.
Covid-19 hit Auto sector make the change to 2021 with cautious optimism
It is estimated that during the prolonged lockdown, the auto industry suffered losses of more than Rs 2,300 crore in turnover for every single day of closure
PTI | December 20, 2020 | Updated 14:01 IST
Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world (Photo- PTI)
Having endured and managed to recover from the disruptions induced by a once-in-a-century event, the Indian auto sector is cautiously looking forward to 2021 with hopes of putting up a better show in the post-COVID-19 world, although a lot will hinge on how the economy grows.
Hyundai India flags off the fourth edition of Great India Drive
Aditya Chatterjee Published: December 19, 2020, 07:32 PM IST
Hyundai India has flagged off its fourth edition of Great India Drive from the national capital. Hyundai, the country s largest exporter, has been conducting these drives every year with a different highlight. For this year, the drive revolves around the company s global vision of progress for humanity that will focus on the importance of social values in the new world and new normal.
The Great India Drive was conceptualised to capture unique stories across India, connecting people back to their roots and harmonizing in the symphony of nature, reaching these destinations in modern and advanced Hyundai cars. In its 4th iteration, the Great India Drive will cover locations such as the Atal Tunnel, Dalhousie, Goa, Jaisalmer, Narkhanda, Bhimtika