Sharmistha Mukherjee

  • HMSI to buyback BSIV inventory from NCR dealers

    HMSI to buyback BSIV inventory from NCR dealers

    The company said it has also decided to advance payments of incentives and reimbursements across the 3 functions (sales, service and spare parts) and entirely bear the interest cost of BS-VI inventory (physical as well as those in transit) with the dealers for the 21 days of nationwide lockdown. Rival Hero MotoCorp has also announced plans to buy back unsold BSIV inventory.

    Automakers turn to online sales to boost volumes amid COVID-19 outbreak

    Automakers turn to online sales to boost volumes amid COVID-19 outbreak

    MG Motor India’s online sales channel is scheduled to become operational by the end of the month. Hyundai is accelerating the launch of its one-stop digital sales platform “Click to Buy.” Mercedes-Benz, which currently sells pre-owned vehicles online, is adding new vehicles on its platform.

    Lockdown effect: Restaurants, cinemas & retailers at malls seek zero rentals till May

    Lockdown effect: Restaurants, cinemas & retailers at malls seek zero rentals till May

    The ₹4.2 lakh crore restaurant industry, which employs over seven million people, is staring at store closures, job losses, and significant erosion of profits and revenue because of the lockdown and social distancing norms. Force majeure refers to rare and unanticipated events, beyond the control of the concerned party that prevents him from fulfilling a contract.

    MG Motor India: Supplies resume from China but facing hurdles from Italy

    MG Motor India: Supplies resume from China but facing hurdles from Italy

    “Our supplies and production were impacted in February because of the outbreak of coronavirus in China. In March, the situation started improving…Now we are more concerned about Italy… (But) We are still optimistic, because of our bookings, we will be able to meet our annual target,” said MG Motor India president Rajeev Chaba.

    Auto companies seek bank breather for dealers

    Auto companies seek bank breather for dealers

    The proposal would have to be approved by the board of individual banks. A clarification is also awaited from the Reserve Bank of India (RBI) regarding the extension of moratorium on short-term loans such as inventory finance.

    Covid-19 impact: Multiplexes call for rent suspension

    Covid-19 impact: Multiplexes call for rent suspension

    Sources across cinema chains have confirmed to ET that they had individually written to the landlords and mall owners seeking waiver of rent under the ‘force majeure’ clause of their contracts. The clause excuses companies from meeting some obligations in case of certain unusual circumstances.

    Hyundai orders COVID-19 testing kits from South Korea

    Hyundai orders COVID-19 testing kits from South Korea

    These advanced kits have a very high level of accuracy and can help serve over 25,000 people, Hyundai Motor India Ltd ( HMIL) said in a statement. "Post receiving the shipment, the kits will be distributed in consultation with the Centre, and state governments to the hospitals in affected areas," it added.

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