The industry reported marginally improved sales over preceding months in September, October and November although none of these months recorded growth year-on-year.
While the slowdown hasn’t shown a significant impact on Triumph's sales, weak consumer sentiment did result in the motorcycle maker deferring its dealership expansion plan by six months. The company plans to have 20 dealerships in the country in the next 18 months. It has identified Guwahati, Goa and two unspecified locations in the northeast and the south for the upcoming dealerships.
Government should ease the process of getting clearances for starting a new business: Anil Agarwal, chairman Vedanta Resources
The founder chairman of Vedanta Resources, who had flown down from London where he resides for the Award show, said that it baffles him to see one private sector bank have $25 billion of market capitalisation while Canara Bank has only a fraction of that market capitalisation, despite both the banks having similar clientele.
Built at an investment of Rs 750 crore, the company will operate the terminal for the next 30-years as part of its build, operate, and transfer agreement with the Paradip Port Trust, the infrastructure arm of the JSW Group said in a statement. “Paradip’s location continues to remain attractive for iron ore movement via sea route. ” said MD of JSW Infra.
This comes at a time when a number of automakers are considering bringing electric vehicles (EVs) they sell in global markets to India, while Indian automakers are getting ready with their own range of EVs. BMW’s British brand showcased in July its first EV, the Mini Cooper SE for the global market with a starting price of $29,900 (Rs 21.5 lakh, approx.).
According to Federation of Automobile Dealers Associations (FADA), passenger vehicles (PV) sales stood at 2,23,498 units in October 2018. Two-wheeler sales increased 5 per cent to 13,34,941 units last month as compared with 12,70,261 units in the year-ago period.
The Chinese automaker already sells electric buses in India in partnership with Hyderabad-based Olectra Greentech. In September this year, it was reported that the company was looking for local partners in the country for its electric cargo vans to branch out beyond buses.
While the company will continue investment in its EV program for India, it will wait for the infrastructure to be developed in the country before marketing its electric two-wheelers, Noriaki Abe, managing officer at Honda Motor Company told ET. Honda has conducted a feasibility study for e-scooters in its global portfolio for India.
The move to electrify government employees’ car fleet ended with just set 3,000 cars, against a target of 10,000.
Japanese automaker Suzuki Motor’s two-wheeler unit may start testing its electric scooter on the streets of India as soon as next year, but will likely wait for infrastructure to develop before marketing the product.
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