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Automobile retail sales witnessed a decline of 55 per cent this May, as compared to April. According to the Federation of Automobile Dealers Associations (FADA), passenger vehicle (PV) sales declined by 59 per cent in May as compared with 2,08,883 units in April this year .
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The first product to be launched is ‘Eurogrip Bee Connect’ scooter tyres Leading two and three-wheeler tyre maker TVS Srichakra has announced its entry into the European market with its new range of Eurogrip two-wheeler tyres. “The new range of tyres has been customised to meet the European rider’s needs,” said a statement from the company, which is part of the auto ancillary conglomerate TVS Group. “Our focus is to deliver quality tyres and develop a robust business infrastructure that can help us cater to the needs of our partners and customers in the European market. The new p...
Covid second wave and subsequent lockdown impacts sales Suppressed demand due to the Covid second wave and subsequent lockdown has pushed up the inventory levels of two-wheelers at dealerships across the country. Compared to an inventory of 15-20 days prior to the lockdown in the first quarter of 2020, the inventory has climbed up to 41-46 days at the end of the fourth quarter of 2021. This has put a majority of dealers in the two wheeler segment in the danger of defaulting on credit. Vinkesh Gulati, President, FADA told BusinessLine “We already started the lockdown with a high inventory le...
May 06, 2021 Nagesh A Basavanhalli, Group CEO and Managing Director, Greaves Cotton Limited× Segment delivered a record performance in Q4FY21 with revenue of ₹68 crore Greaves Cotton has reported strong growth in its electric vehicle business and presents a bright future outlook amid short-term disruptions due to headwinds from the second Covid-19 wave. The company’s electric mobility business has seen higher growth momentum, with its EV arm Ampere gaining popularity due to rise in demand for its electric two-wheelers (electric scooters) and electric three-wheelers (electric rickshaws)....