Only those businesses with a clear path to 18% return on equity in a five-year span or are strategic in nature will be retained, the man who will succeed Pawan Goenka as the automaker's managing director next year tells Ketan Thakkar and Satish John.
Sales were down about 25% from a year earlier in June for passenger vehicle makers, after a wash-out in April when the country was in lockdown and weak sales in May when the government started easing curbs.
Hyundai Motor India has tied up with three colleges and universities in the vicinity of its factory at Sriperumbudur to use their premises, director for production Ganesh Mani S said.
Major automobile manufacturers see big dip in June sales, though fared better as compared to May .
Maruti Suzuki hopes to sell 1 million units in 2020 and is even hoping to take output to as much as 90% for the financial year ending March 2021, as pent-up demand continues to drive bookings after easing of lockdown restrictions, people in the know said.
Mahindra would find it difficult to fully exit Ssang-Yong, the primary reason being the loans.
Maruti Suzuki, Hyundai see bookings of 200,000 units over a month, indicating a swift pick-up.
Not more than 15% of the polluting particulate matter in urban air is due to vehicles, he said, citing studies. On top of that, under the BS-VI emission rules, the particulate matter emissions of diesel vehicles are substantially lower than before.
Time is appropriate to look for partners for passenger vehicle business: Tata Motors CFO, P B Balaji
Everyone in the automotive industry would want to look at partnering to share costs because the problems created by the pandemic were much larger than one company could handle, said PB Balaji, the chief financial officer of Tata Motors Group, during the company's earnings call on Monday.
The company is gradually gaining momentum in the commercial segments due to its rugged, low maintenance and strong durability - attributes that define its SUVs in India. In 2020, the company had started to shift more focus to the fleet, work, and ranch/agricultural opportunities.
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